Fitch Ratings revised downwards India’s GDP growth forecast to 7.2% for current fiscal citing higher financing cost and reduced credit availability.
In its Global Economic Outlook, Fitch projected that for 2019-20 and 2020-21 financial years, India’s GDP growth will be 7% and 7.1% respectively. Fitch had in June projected India to grow at 7.4% in current fiscal and 7.5% in 2019-20.
Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:
- Fitch Ratings Headquarters: New York.
Source: The Business Standard