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Moody's Investors Service has projected that the Indian economy will contract 11.5% during 2020-21 due to the impact of the lockdown and continued rise in COVID-19 cases. In July, it had projected that the Indian economy will contract 4% in the current fiscal. The rating agency said that India's debt burden will peak at around 90% of GDP in 2020-21.
Moody's Investors Service has projected that the Indian economy will contract 11.5% during 2020-21 due to the impact of the lockdown and continued rise in COVID-19 cases. In July, it had projected that the Indian economy will contract 4% in the current fiscal. The rating agency said that India's debt burden will peak at around 90% of GDP in 2020-21.
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