Fitch Ratings recently cut India’s economic growth forecast for the next fiscal to 6.8 per cent from its previous projection of 7 per cent based on a weaker-than-expected momentum in the economy. The gross domestic product (GDP) growth for fiscal 2020-21 is now projected to be 7.1 per cent from the earlier 7.3 per cent, according to Fitch’s Global Economic Outlook.
Fitch cut India’s fiscal 2018-19 GDP growth forecast to 7.2 per cent from 7.8 per cent on December 6 last year.Fitch Ratings recently cut India's economic growth forecast for the next fiscal to 6.8 per cent from its previous projection of 7 per cent based on a weaker-than-expected momentum in the economy.The gross domestic product growth for fiscal 2020-21 is now projected to be 7.1 per cent from the earlier 7.3 per cent, according to Fitch's Global Economic Outlook.#
The Reserve Bank of India cut interest rates by 0.25 percentage points in February, a move supported by steadily decelerating headline inflation. Fitch expects another 25 basis points cut in 2019, amid protracted below-target inflation and easier global monetary conditions than previously envisaged, according to a news agency report. (DS)
ALCHEMPro News Desk – India
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