New Delhi: In the midst of the crisis of the Corona epidemic, relief news has now come out amidst the dismal news about the economy. Rating agency Moody's has said that the Indian economy will come back on track in the second half of this year i.e. in the coming months.
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Moody's Investors Service has said that India, China and Indonesia will be the emerging countries of the G20 whose GDP will gain momentum in the second half of 2020. Even after this, Moody's maintains on the assumption that India's GDP will break 3.1 percent during the whole year 2020. Moody's stated in its August updated Global Macro Outlook 2020-21, 'The financial landscape is more challenging in emerging countries than in advanced countries. We estimate that China, India and Indonesia will be the only countries in the G20 where GDP will be back on track in the second half of the year 2020 and will reach the first round of the economy corona in 2021.'
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Let us tell you that Moody's has predicted that in 2021, the Indian economy will grow at a rate of 6.9 percent. Even before the Corona, the condition of the Indian economy was not very good. During the year 2019-20, the Indian economy has grown at a rate of only 4.2 percent. This was the lowest growth rate in the last 11 years.