PM Modi LIVE at CII AGM: Prime Minister Narendra Modi will address CII’s annual general meeting today, where industry leaders are gathering to discuss ‘how to get growth back’. Indian economy is hit hard by the ongoing coronavirus pandemic, with last year’s GDP growth falling to a mere 3.1%, fiscal deficit overshooting the target by 80 basis points, and this fiscal year’s GDP expected to shrink.
In a major setback, Moody’s today downgraded India’s sovereign credit rating by one notch to ‘Baa3’, while maintaining its negative outlook, citing risks from sustained low growth, among other reasons.
