India may see 0% GDP growth this fiscal year - Moody's

The impact of the coronavirus outbreak will exacerbate the material slowdown in India's economic growth, with the country expected to see 0% expansion in the current fiscal year, analysts at Moody's said on Friday. The ratings agency said it expected India to see no growth in financial year 2021 and bounce back to a 6.6% GDP growth in FY22, while the fiscal deficit is seen rising to 5.5% of GDP in FY21 versus the budgeted estimate of 3.5%. The COVID-19 spread in the country has also "significantly reduced the prospects of a durable fiscal consolidation," it said in a report.

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