Fitch cuts India growth forecast to 6.6 for FY20
India, June 18 -- Credit rating agency Fitch has lowered India's growth forecast to 6. 6% for the current fiscal from 6.8% projected earlier as manufacturing and agriculture sectors showed signs of slowing down over the past year.In its latest Global Economic Outlook the global rating agency retained its GDP growth forecast for the next fiscal (2020-21) at 7.1% and 7.0% for 2021-22.In the last fiscal Indian economy grew at a 5-year low pace of 6.8%."We see growth for FY 2019-2020 printing at 6.6% before stepping up to 7.1% in FY 2020-2021 and 7.0% in FY 2021-2022 " Fitch said.India's GDP growth declined for the fourth consecutive quarter in January-March with the economy expanding by 5.8% down from a cyclical high of 8.1% in the March quart...
To read the full article or to get the complete feed from this publication, please
Contact Us.