Fitch Ratings cut India's FY22 economic growth forecast to 8.4%

It raised GDP growth projections to 10.3 per cent, from the earlier expected 10 per cent for the next fiscal year (2022-23)

Indivjal Dhasmana New Delhi
Fitch rating agency

On the positive side, Fitch said recovery in domestic economic activity is turning increasingly broad-based

Fitch Ratings cut India’s economic growth forecast to 8.4 per cent, from the previous 8.7 per cent for the current fiscal year (2021-22, or FY22) on Wednesday.
The rating agency said risks to recovery remain, especially in the near term, given that less than one-third of the population is fully vaccinated. The newly discovered Omicron variant has added to the risk, it said.
However, the rating agency said the economy staged a strong rebound in the second quarter of FY22 from the Delta variant-induced sharp contraction. According to its estimates, gross domestic product (GDP) rose a sharp 11.4 per cent quarter-on-quarter in seasonally adjusted terms after slumping by 12.4 per cent in the first quarter.

Also Read

Economic Recovery: What do K, V, U, L, W-shapes recoveries really mean?

Fitch cuts GDP growth projections to 8.7% for FY22 from 10% earlier

Does India have a case for the upgrade it seeks from rating agencies?

Fitch downgrades ONGC, OVL and ONGC Videsh Vankorneft ratings to BBB-

Domestic gas price to be raised by 60% from Oct: ONGC's Subhash Kumar

RBI's accommodative stance to pave way for 9.5% economic growth: Experts

No extension in AGM deadline beyond June 30, 2022 for companies: MCA

We're almost cashless societies, but let's not rush too quickly into future

Overarching policy priority now is supporting growth, says RBI Guv

Output gap may take many years to close, says Reserve Bank

First Published: Dec 08 2021 | 10:59 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to