Fitch forecasts India’s GDP growth at 5.6% for Financial Year 2021

Fitch Ratings has estimated India’s GDP growth of 5.6% in the next FY21 in its India Economic Outlook. This forecast is lower than the projection made by the government’s Economic Survey. For the current fiscal 2019-20 (FY 20), GDP is projected at 4.6%. Fitch has also estimated that in the fiscal year 2022, government debt will remain 70% of total GDP.

Important takeaways for all competitive exams:

• CEO of Fitch Ratings: Paul Taylor.
• President of Fitch Ratings: Ian Linnell.
• Headquarters of Fitch Ratings: New York, USA.

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