Moody's cuts India's 2020 growth forecast to 5.4% amid coronavirus fears

Global rating agency Moody’s said on Monday that India’s economic recovery is likely to be shallow and expand at a lower pace of 5.4 per cent in Calendar 2020 than the earlier estimate of 6.6 per cent.

In a review of the global economy to assess likely to impact on Coronavirus outbreak, Moody’s said it (virus and its spread) has diminished optimism about prospects of an incipient stabilisation of global growth this year.

With the virus continuing to spread, it is still too early to make a final assessment of the impact on China (A1 stable) and the global economy.