Moody’s Investors Service has released its June update to Global Macro Outlook (2020-21). In its latest release, the rating agency projected the Indian economy to shrink 3.1% in the fiscal year 2020, while it is expected to register 6.9% growth in fiscal year 2021. Global Macro Outlook also indicated that China would be the only G-20 country to record growth of 1% in fiscal year 2020 and expects it to grow at 7.1% in fiscal year 2021.
