Impact of Corona: Capital reduced India's economic growth rate by 5.30 percent

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New Delhi, Mar 17, 2020, Tuesday

In view of the impact on the economy of the coronavirus, Moody's Investors Service has projected India's economic growth rate for the current calendar year to be 5.7 percent. Earlier, Moody's last month announced a growth rate of 5.5 per cent.

In the calendar year of 9, India's economic growth rate was 8.5 percent and for 8 it was fixed at 8.5 percent.

The rapid and widespread outbreak of coronavirus has had significant economic consequences, the rating agency added, adding that a reduction in consumption demand in the affected countries has led to the loss of supply chain and cross-border goods and services.

If the disturbance continues for a long time, the risk of global recession will be even wider, Moody's said. The economic growth rate for the year of 6 is estimated at 8.5 percent.

Several governments and central banks have taken measures, including fiscal concessions, policy rates and regulatory measures.

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