The country's GDP growth forecast was modestly revised by Moody's

Mumbai, Ta. 12 November 2020, Thursday

In the calendar year 2020, the country's economic growth rate, which was earlier projected to decline by 7.50 per cent, has now slightly improved to 7.50 per cent, according to Moody's. The country's GDP, which was earlier projected at 7.10 per cent in 2021, has been revised to 7.50 per cent.

The vote comes in the wake of a drop in corona cases in the country, according to a report by the global rating agency. In India, the test positivity rate has come down to less than five per cent. The death rate due to corona is also coming down in most emerging countries.

If this rate is maintained, it will not take long for mass mobilization and social mobilization to begin. In addition, after the discovery of the vaccine, the fear of corona will disappear in 2021 and 203. In the June quarter, India's economic growth rate was as low as 5 per cent year-on-year. Corona caused a gap in GDP due to the nationwide lockdown.

Lockdowns are being eased in phases and at a slower pace. If the steady decline in Corona cases from September continues, the way will be paved for easing sanctions.

The recovery of the global economy depends on how fast the vaccine is discovered in the coming year and how fast it is delivered. However, any difficulty in controlling the virus will hamper the phased recovery process in the short term, the report said.