Question: For the current financial year 2018-19, Fitch had reduced the India’s GDP growth from 7.8 percent to __ in December.
(a) 7.2 percent
(b) 7.4 percent
(c) 7.6 percent
(d) None of the above
- Fitch Ratings cut India’s GDP growth forecast for the next financial year 2019-20 to 6.8 percent from its previous estimate of 7 percent on weaker than expected outlook.
- Fitch released its ‘Global Economic Outlook’ in March 22, 2019.
- For the current financial year 2018-19, fitch had reduced the India’s GDP growth from 7.8 percent to 7.2 percent in December.
- It has also cut the growth forecast for the following financial year 2020-21 from 7.3 percent to 7.1 percent.
- Fitch expects a weaker oil price outlook and the possibility of acceleration in food prices in the months to come in order to support income and consumption of rural households.