Economy Coronavirus News: Second COVID Wave Could Crimp India's Long-Term Growth: Moody's
Moody's anticipates a wider fiscal deficit of about 11.8 per cent of GDP in 2021/22. India's severe second wave of coronavirus infections will slow near-term economic recovery and could weigh on longer-term growth dynamics, rating agency Moody's Investors Service said in a note on Tuesday. "Deeper stresses in the economy and financial system could lead to a more severe and prolonged erosion in fiscal strength, exerting further credit pressure," said Gene Fang, Moody's Associate Managing Director. India's COVID-19 crisis showed little sign of easing on Tuesday, with a seven-day average of new ...