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Fitch Ratings reduce India’s FY23 growth forecast to 8.5%

Fitch Ratings has slashed India’s GDP growth forecast for the fiscal FY 2022-2023 to 8.5 per cent in its Global economic Outlook-March 2022.

Sumit Arora Published On March 23rd, 2022 Leave a comment

Fitch Ratings has slashed India’s GDP growth forecast for the fiscal FY 2022-2023 to 8.5 per cent in its Global economic Outlook-March 2022. Earlier this rate was estimated at 10.3%. The downwards projection is due to sharply higher energy prices because of the ongoing Russia-Ukraine war. The Rating agency Fitch has revised upwards the GDP growth forecast for the current fiscal FY 2021-2022, by 0.6 percentage points to 8.7 percent.

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With the Omicron wave subsiding quickly, containment measures have been scaled back, setting the stage for a pick-up in GDP growth momentum in the June quarter this year.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.