Moody’s has slashed the economic forecast for India around 2.5 percent in this year. It has even expected that this growth will bounce back to 5.8 percent in 2021. As per the global level, GDP growth is negative of 0.5 percent.
If they revise then the growth rate for CY20 has come down for COVID-19, and it has paralyzed the economic activity not only in India, full globe. Moody is expecting the growth G-20, and this is the unprecedented shock for the first half of 2020.
They are accepting that they need to revise the growth forecast then need to raise the economic costs. They are now expecting G-20 by 0.5 percent in 2020. Growth may pick up 3.2 percent in 2021. The last year in November month, the coronavirus growth rate has become G-20 at 2.6 percent in 2020.
They are saying that the agency expert policy must continue the growth, and the duration becomes clear, but the risk of the growth remains the same.
The way server compression is happening demand is not stable. Moreover, China’s data of January and February months are not revealed. Business is in loss and low income, so the economy is going down.
Everywhere financial distress is happening though the government is supportive enough still financial difficulties are there.
China’s GDP growth is 3.3 percent, and it is following to 6 percent growth rate in 2021. Agency also believes that the recovery of EMs is not so easy.