Fitch slashes India GDP forecast for FY20 to 4.9 pc on weak demand

NEW DELHI, March 2 -- FITCH SOLUTIONS on Monday cut its forecast for India's economic growth to 4.9 per cent in the current fiscal that ends March 31, saying manufacturing could come under pressure from weak domestic demand and supply chain disruptions due to the coronavirus outbreak.

The GDP growth is forecast to recover slightly to 5.4 per cent in 2020-21 (April 2020 to March 2021), it said.

"We at Fitch Solutions are revising down our forecast for India's real GDP growth to 4.9 per cent in FY2019/20, from 5.1 per cent previously, and 5.4 per cent in FY2020/21, from 5.9 per cent previously," the agency said in its outlook for the country.

India's real GDP growth decelerated to 4.7 per cent in the third quarter (October- December) from ...