American credit rating agency, Fitch has revised India’s GDP growth estimate for the fiscal 2021-22 to 12.8%, from its previous estimate of 11%, in its latest Global Economic Outlook (GEO). The improvement in GDP rate is based on factors like a stronger carryover effect, a looser fiscal stance, and better virus containment. Also, for the fiscal year 2022-23, Fitch expects GDP growth at 5.8%.
Important takeaways for all competitive exams:
- Fitch Ratings Headquarters: New York, United States.
- Fitch Ratings CEO: Paul Taylor.
- Fitch Ratings Founder: John Knowles Fitch.
- Fitch Ratings Founded: 1914.