Question: On 11th May 2021, Moody’s Investors Service has sharply cut India’s FY22 growth forecast. What is the new growth rate of India instead of the earlier estimated 13.7% as per Moody?
a) 10%
b)9%
c) 9.3%
d) 8%
Ans: c
Facts
- Moody’s Investors Service on 11 may 2021 sharply cut India’s FY22 growth forecast to 9.3% from 13.7% estimated earlier.
- Moody has joined other global rating firms in trimming growth expectations for India amid a devastating second wave of Covid-19.
- It has also ruled out any ratings upgrade for India.
- Brickwork Ratings, in April revised its FY22 economic growth projection for India to 9% from 11% estimated earlier. S&P Global Ratings last week said it expects India’s GDP to grow 9.8% under its moderate scenario and at 8.2% under the severe scenario based on when the current wave peaks.
By kameshwar shukla
Reference: https://www.hindustantimes.com/business/moodys-cuts-india-growth-forecast-101620765206142.html