Moody’s cuts India’s GDP growth projection to 5.5% for next fiscal

Moody’s Investors Service recently released its estimates for India’s GDP growth in the upcoming fiscals. It lowered the real GDP growth projection for the next 2020-21 fiscal to 5.5 per cent, from its previous estimate of 6.3 per cent. The government’s Economic survey has projected a growth rate of 6-6.5% for the next fiscal.

It also stated that the GDP growth for the current fiscal ending March 31 would be 4.9 percent, which is slightly lower than the estimate of the government. For the fiscal 2021-22, it predicted a growth rate of 6 per cent, down from 6.7 per cent which was projected earlier.