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Moody’s sees nil growth in FY21, cuts growth projection to zero

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India’s nationwide lockdown, considered the severest in the world, has led to massive retrenchment and loss of output Moody’s Investors Service on Friday cautioned that the country’s sovereign rating could be downgraded if its fiscal metrics weaken materially, following a similar warning from Fitch Ratings.

Moody’s also slashed its growth projection for India to 0% for FY21. “This would probably happen in the context of a prolonged or deep slowdown in growth, with only limited prospects that the government would be able to restore stronger output through economic and institutional reforms," the rating agency said in its latest credit opinion.

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COVID-19
United States
United States
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India
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Brazil
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Russia
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Recovered: 0
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