According to the US based global rating agency, Fitch, India’s economic growth rate will leisurely accelerate to 8% by fiscal year ending March 2019, driven by the gradual implementation of structural reforms, higher disposable income and improvement in economic activity. Fitch also expects India’s GDP to grow 7.5% in fiscal year ending March 2016 and improve to 7.7% in the current fiscal year and further to 7.9% in the fiscal year ending March 2018.
As the global agency, the passage of the Bankruptcy Code earlier this month showed that implementation of big ticket reforms is possible in India, even though reforms related to land acquisition and a Goods and Services Tax have not passed thus far. It also expects higher disposable income to contribute to faster GDP growth.
As per Fitch estimates, India remains the fastest growing country across the world with GDP in 2016 estimated to grow at 7.55% year on year compared to global GDP which is likely to grow at 2.5%.
So let’s discuss some questions related to this post :
1. Name the global rating agency which has estimated India’s economic growth to 8% for the FY 2019 ?
2. Where is the headquarter of Fitch Rating agency ?
Courtesy : Economic Times