Moody’s cuts Indian Growth Rate to -11.5% from 4%. Moody’s Investors Service downgraded India’s growth projection for the current fiscal to (-) 11.5%, from (-) 4% estimated earlier.
For 2021-22, it projected the economy to clock a growth of 10.6%. Moody’s action follows another global rating agency Fitch, which earlier this week, projected a 10.5% contraction in Indian economy this fiscal.
Other Domestic rating agencies Crisil and India Ratings and Research have projected contraction of 9% and 11.8%, respectively.
- Headquarters: New York, United States
- CEO: Raymond W. McDaniel Jr.
1) Earlier, Moody’s downgraded India’s sovereign credit rating by what percent? = 4%
2) As per World Bank, India’s economy to contract by what per cent in fiscal year 2020-21? = 3.2 percent
3) Ratings agency Moody’s Investors Service downgraded India’s sovereign ratings from Baa2 to which grade? = Baa3
4) What is the India’s GDP rate projection for FY22 as per Moody’s? =10.6%
5) Recently, Fitch revised India’s GDP forecast from -5% to which percent? = -10.5%
6) India’s GDP rate projection for FY21 as per India Ratings and Research? = -11.8%
7) India’s GDP rate projection for FY22 as per India Ratings and Research? = -+9.9%
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