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Discussion :: National - Latest Current Affairs (Q.No.1010)

1010. 

Rating agency Moody's expects India's real GDP to contract by how much percent in fiscal 2021 due to the COVID-19 pandemic?

[A]. 2%
[B]. 4%
[C]. 3%
[D]. 5%

Answer: Option B

Explanation:

Rating agency Moody's expects India's real Gross Domestic Product to contract by 4% in fiscal 2021 due to the COVID-19 pandemic and related lockdown measures. India's foreign-currency and local-currency long-term issuer ratings have been downgraded to Baa3 from Baa2. Meanwhile India's local-currency senior unsecured rating was also reduced to Baa3 from Baa2, and its short-term local currency rating to Prime-3 from P-2. The outlook remains negative.

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