- 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%
