Fitch Ratings slashes India’s GDP growth rate to 5.1% for FY21

Fitch Ratings has reduced India’s GDP growth rate to 5.1% for the fiscal year 2020-21. Earlier, Fitch Ratings forecasted India’s growth outlook at 5.6% which has been reduced now to 5.1% for the fiscal year 2020-21.

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The reduction in India’s growth outlook has been due to the Covid-19 impact on Indian manufacturers after supply chain disruptions in China.

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