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.
MUMBAI - 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 COVID-19 spread in the country has also “significantly reduced the prospects of a durable fiscal consolidation,” it said in a report. India has so far outlined a 1.7 trillion rupee stimulus plan providing direct cash transfers and food security measures to give relief to millions of poor and a second package focussing on help for small and medium businesses is expected soon.“We would be likely to change the rating outlook to stable if we saw a significant increase in the probability of fiscal metrics stabilizing and strengthening over time,” it said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
At least 11 killed in chemical gas leak in IndiaThe gas escaped out of tanks at a complex owned by South Korea's LG Chem that was preparing to restart a polystyrene plastic facility after a coronavirus lockdown was eased.
Read more »
At least eight killed after chemical gas leak in IndiaAdministrator Vinay Chand said several people fainted on the road and were rushed to a hospital in Vishakhapatnam, a city in Andhra Pradesh state. The dead included an 8-year-old girl.
Read more »
Gas leak at LG Polymers plant in India kills six, over 120 hospitalisedA chemical gas leak at an LG Polymers plant in southern India on Thursday killed at least six people, and led to more than 120 people being admitted to hospital and the evacuation of three nearby villages, a local official in Andhra Pradesh state said.
Read more »
As India Reopens Liquor Stores, Customers Line Up — But Overcrowding Forces ClosuresWhen India's liquor stores reopened for the first time in nearly 6 weeks, lines formed at dawn — and stretched over a mile in some places. That posed infection risks, leading some states to reverse the decision.
Read more »