Question : According to Moody’s Analytics, how much India’s GDP growth estimated in 2021 ?
(a) 12%
(b) 11%
(c) 10%
(d) 13%
Ans.(a)
Related facts
- Moody’s Analytics is a subsidiary of Moody’s Corporation, which was established in 2007 to focus on non-rating activities separate from Moody’s Investors Service.
- According to Moody’s Analytics, After contracting by 7.1 per cent in 2020, India’s gross domestic product (GDP) is likely to grow 12 per cent in 2021.
- Hit by the COVID-19 pandemic and the subsequent nationwide lockdown to control the spread of infections, Indian economy contracted by 24.4 per cent in first quarter of 2020 and 7.3 per cent in second quarter of the year.
- However, GDP growth returned to positive territory in third quarter, rising by 0.4 per cent.
- A stronger than expected December quarter GDP growth of 0.4 per cent has turned India’s near-term prospects more favourable.
- This forecast is equivalent to real GDP, in level terms, growing by 4.4 per cent above pre-COVID-19 levels (as of March 2020) by the end of 2021, or equivalently, by 5.7 per cent above the GDP level in December 2020 by the end of 2021.
By — Pankaj Pandey.