Home / Economy / News / Fitch slashes India's growth projection from 9.5% to 8% for FY22

Fitch slashes India's growth projection from 9.5% to 8% for FY22

It retained its projection of Indian economy contracting by 5 per cent in the current fiscal

cash, currency, notes, funds, investment, shares, growth, profit, loss, tax, money, income, earnings

Premium

In May update to the oulook, Fitch had projected 9.5 per cent growth in 2021-22.

2 min read Last Updated : Jun 30 2020 | 6:36 PM IST

Fitch Ratings on Tuesday cut India's growth forecast for 2021-22 fiscal to 8 per cent from 9.5 per cent projected last month. It retained its projection of Indian economy contracting by 5 per cent in the current fiscal.

Indian economic growth stood at an estimated 4.2 per cent in 2019-20. In its June update of Global Economic Outlook, Fitch projected Indian economy to grow 5.5 per cent in 2022-23.

"In India, where authorities imposed one of the most stringent lockdowns globally to try to halt the spread of the virus, measures are being relaxed only very gradually; with a limited

Topics : Fitch Ratings India's growth projection Indian Economy

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in