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Fitch cuts India GDP forecast for FY22 to 8.4% in Nov from 8.7% in Oct

However, Fitch raised GDP growth projection for the next financial year to 10.3 per cent

Topics
Indian Economy | Fitch | GDP forecast

Press Trust of India  |  New Delhi 

Fiscal Deficit

Ratings on Wednesday cut India's economic growth forecast to 8.4 per cent for the current fiscal year ending March 31, 2022, but raised GDP growth projection for the next financial year to 10.3 per cent.

had in October forecast a GDP growth of 8.7 per cent in 2021-22 (April 2021 to March 2022) fiscal and 10 per cent in FY23.

"We have cut our FY22 (financial year ending March 2022) GDP growth forecast, to 8.4 per cent (-0.3 pp). GDP growth momentum should peak in FY23, at 10.3 per cent (+0.2 pp), boosted by a consumer-led recovery and the easing of supply disruptions," said in its Global Economic Outlook.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, December 08 2021. 10:20 IST
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