Fitch cuts India growth forecast to 10 pc, says rapid vaccination to support revival
RBI too earlier this month cut India's growth forecast to 9.5 per cent for this fiscal, from 10.5 per cent estimated earlier.
RBI too earlier this month cut India's growth forecast to 9.5 per cent for this fiscal, from 10.5 per cent estimated earlier.
Indian economy contracted by 7.3 per cent in fiscal 2020-21 as the country battled the first wave of COVID, as against a 4 per cent growth in 2019-20.
Manufacturing output was about 3.5 per cent higher in October 2020, compared to the year-ago period, while the output of consumer durables rose by almost 18 per cent.
For next fiscal 2021-22, Moody's projected India to grow at 10.8 per cent, as against the previous estimate of 10.6 per cent.
1. This is the third update of Fitch Ratings’ Global Economic Outlook forecast in a month. 2. In a normal scenario, these ratings are given on a quarterly basis.
