Moody's slashes India GDP growth in 2020 to 2.5%
NEW DELHI: Moody's Investors Service on Friday slashed its estimate of India's GDP growth during 2020 calendar year to 2.5 per cent from an earlier estimate of 5.3 per cent, on account of the rising economic cost of the coronavirus pandemic.
This compares to 5 per cent growth in 2019.
Moody's said, at the 2020 estimated growth rate, a sharp fall in incomes in India is likely, further weighing on domestic demand and the pace of recovery in 2021.
"In India, credit flow to the economy already remains severely hampered because of severe liquidity constraints in the bank and non-bank financial sectors," it said.
Growth rate? I believe only if there is some growth, there can be a rate! Growth is a distant word for indians for the past 6 years.
A B Quadri
More than Corona Virus People of India will Die of Hunger
100 % LOCKDOWN is a TUGHLAKI FARMAAN and is not possible in a Country like India
Modi;s BJP/RSS Govt should have thought about the hardshipd it would impose on People and especially migrants OF INDIA and should have taken preventive measures
on top of that Police is strictly imposing lockdown and thrashing even those who are hungry and looking for food
What is the Government doing ?? Government has just imposed lockdown without any thought or Plan
Bhakts will troll Moody's forecast now.
Lets hope we are able to grow at 2.5%
Chokeedar will be known spoiler of Indian economy.
Chokeedar should thanks to Corona Virus as it has provided him opportunity to shift entire blame of worst economy condition of last 70 years to Corona Virus.
Chaukeedar will be known destroyer of Indian economy for coming generation. Still he has time to visit Manmohan Singh and rub his nose three times on his feet so that he can suggest something on economy.
We are not focused on GDP
india cares our PM's Modi's broadcast,that human is important than economy now, than Moody's. Better shut up and lie low for sometime Moody.