Fitch cuts India’s GDP growth Forecast to 7.8%

Published on June 11, 2022
Current Context: Global rating agency Fitch has cut India’s growth forecast for FY 2023 by 70 basis points to 7.8 percent.
Fitch cuts India’s GDP growth Forecast to 7.8%
  • But it enhanced India’s growth outlook to ‘stable’ from ‘negative’ on the back of reduced risks to India’s economic growth.
  • It has also been observed that India’s growth is expected to be robust in comparison to its peers.
  • Due to its rapid economic recovery and easing of India’s financial sector weaknesses, India withstands global uncertainties, especially the Russia-Ukraine war.
  • Earlier In March, Fitch Ratings had cut India’s growth forecast for FY 2023 to 8.5%. Now it has further cut India’s economic growth due to the inflationary impacts of the global commodity price shock.
  • Fitch forecasts India’s debt-to-GDP ratio to drop to 83% in FY 2023 from a peak of 87.6% in FY 2021.
  • By looking government’s infrastructure push, reform agenda, and easing pressures in the financial sector, Fitch forecasted growth of around 7% between FY24 and FY27.

Question:

Q.1 According to the global rating agency Fitch has cut India’s growth forecast for FY 2023 to ______?
a. 6.2%
b. 7.0%
c. 7.8%
d. 8.2%

Can I help you?

ramandeep singh

Hey I am Ramandeep Singh. I am determined to help students preparing for RBI, SEBI, NABARD and IBPS exams. Do you want me to help you ?

Join my class here
    Follow me:
Close Menu
Close Menu