Moody’s revises India’s growth projections to 5.3% for 2020

Global rating agency Moody’s Investors Service has revised downward its growth projections for India to 5.3% for 2020 from its earlier projection earlier this month-5.4%.

The latest revision is part of the rating agency’s latest ‘Global Macro Outlook’ report. As per the agency, an extensive crash due to the COVID-19 outbreak will reduce growth to 5% during the same calendar year. The OECD last week lowered India’s growth forecast for 2020-21 to 5.1%