prasad1
Active member
Days after India's economy showed signs of recovery, Fitch Ratings on Monday cut the country's GDP growth forecast for the current fiscal to 6.7% from the earlier projected 6.9%, saying the rebound was weaker than expected.
It also cut GDP growth forecast for 2018-19 fiscal year to 7.3% from 7.4% predicted in its September Global Economic Outlook (GEO).
Fitch, however, expects GDP growth to pick up in the next two years on back of gradual implementation of the structural reform agenda and higher real disposable income.
"The Indian economy picked up in 3Q17 (July-September), with GDP growing by 6.3% year-on-year, up from 5.7% in 2Q17.
"However, the rebound was weaker than we expected, and we have reduced our growth forecast for the fiscal year to end-March 2018 (FY18) to 6.7% from 6.9% in the September GEO," Fitch said in its latest GEO.
http://www.deccanherald.com/content/646316/fitch-cuts-indias-fy18-gdp.html
It also cut GDP growth forecast for 2018-19 fiscal year to 7.3% from 7.4% predicted in its September Global Economic Outlook (GEO).
Fitch, however, expects GDP growth to pick up in the next two years on back of gradual implementation of the structural reform agenda and higher real disposable income.
"The Indian economy picked up in 3Q17 (July-September), with GDP growing by 6.3% year-on-year, up from 5.7% in 2Q17.
"However, the rebound was weaker than we expected, and we have reduced our growth forecast for the fiscal year to end-March 2018 (FY18) to 6.7% from 6.9% in the September GEO," Fitch said in its latest GEO.
http://www.deccanherald.com/content/646316/fitch-cuts-indias-fy18-gdp.html
