 "Fitch rating agency")
Fitch Ratings has cut economic growth projections for India to 8.7 per cent for the current financial year from earlier forecast of 10 per cent due to the impact of second Covid wave.
It expected the Reserve Bank of India's monetary policy committee (MPC) to hold the policy rate until the next financial year as inflation would moderate. MPC would announce its decision on Friday.
The growth rate was lowered even as the rating agency said high frequency indicators point to a strong rebound in the second quarter of 2021-22 as business activity has again returned to pre-pandemic levels.
However,
