Fitch Ratings projects India GDP growth for FY22 at 10%

Fitch Ratings has revised its GDP growth projection for India in 2021-22 (FY22) to 10%. Earlier it has projected the same at 12.8%. The reason for this cut is the slow recovery post-second wave of COVID-19.

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Fitch believes that rapid vaccination could support a sustainable revival in business and consumer confidence; however, without it, economic recovery would remain vulnerable to further waves and lockdowns.

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