Categories: Economy

Fitch cuts India’s FY22 GDP growth forecast to 8.7%

Fitch Ratings has cut India’s economic growth forecast to 8.7% for the current fiscal but raised GDP growth projection for FY23 to 10%, saying the second COVID-19 wave delayed rather than derail the economic recovery.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Fitch Ratings said India’s ‘BBB-/Negative’ sovereign rating “balances a still-strong medium-term growth outlook and external resilience from solid foreign- reserve buffers, against high public debt, a weak financial sector and some lagging structural factors”.

Find More News on Economy Here

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

Recent Posts

Which Indian State was the First to Change Its Name? Find Out Here

Did you know that some Indian states were not always known by their present names?…

2 hours ago

Govt To Launch CBDC-Based Food Subsidy Pilot Under PMGKAY in Puducherry

The Government of India will launch a CBDC-based Food Subsidy Distribution Pilot under PMGKAY in…

2 hours ago

Hindustan Oil Exploration Company Confirms Baroruchi Mishra as CEO

Hindustan Oil Exploration Company (HOEC) has approved the CEO transition by appointing Baroruchi Mishra as…

3 hours ago

Army Chief Gen Dwivedi Flags Off Bharat RanBhoomi Darshan at National War Memorial

Chief of the Army Staff General Upendra Dwivedi flagged in the Bharat RanBhoomi Darshan Expedition…

3 hours ago

Exercise Kalari Leap Underscores India’s Coastal Defense Strength

The Southern Air Command of the Indian Air Force successfully conducted a high tempo joint…

3 hours ago

Which Waterfall is known as the Monsoon Wonder of India?

Did you know that there is a waterfall in India that becomes truly magical during…

3 hours ago