Moody’s Projects India’s GDP at -3.1% for Calendar Year 2020 and 6.9% in 2021

Moody’s Investors Service has sharply revised its forecast for India’s annual GDP growth and has projected the Indian economy to shrink 3.1 percent in the Calendar year 2020, caused by the disruptions due to the coronavirus pandemic.
Moody’s released its June update to Global Macro Outlook (2020-21).
In April 2020, it pegged India’s annual growth at 0.2 percent for 2020.
However, Moody’s expects the economy to register 6.9 percent growth in 2021.