The decline is due to the nationwide lockdown started from March 24, 2020. Moody also forecasted India’s growth for 2021 at 6.2%. The projection of GDP of G-20 advanced economiesas a bloc is also declined by 5.8% in 2020 GDP growth rate estimates by various agencies for India in FY20-21 Agency Rating India Ratings (-) 2.1 to 1% Confederation of Indian Industry (CII) (-) 0.9 to 1% Nomura (-) 0.5% Fitch ratings 0.8% Goldman Sachs 1.6% World Bank 1.5 to 2.8% International Monetary Fund (IMF) 1.9% Asian Development Bank (ADB) 4%
