Moody's slashes India's Growth Rate

April 29: Moody's Investors Service on Tuesday slashed India's growth rate to 0.2%  for the year 2020. Earlier this year Moody projected the growth rate to be 5.2%. But, after Prime Minister Narendra Modi's announcement of nationwide lockdown on March 24, the agency cut down the growth rate from 5.2% to 2.5. 

India lost it's tag of fastest-growing economy country to China in the year 2019, as China's economy grew to 6.1% 

Estimated GDP Growth Rate By Various Agencies For India

India Ratings (for 2020-21)	(-) 2.1 to 1 per cent
CII (for 2020-21)	(-) 0.9 to 1 per cent
Nomura (for 2020)	(-) 0.5 per cent
Fitch ratings (for 2020-21)	0.8 per cent
Goldman Sachs (for 2020-21)	1.6 per cent
World Bank (for 2020-21)	1.5 to 2.8 per cent
IMF (for 2020-21)	1.9 per cent
Asian Development Bank (for 2020-21)	4 per cent
Source: Respective agencies