Current Affairs - National - Discussion

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.