Fitch cuts India’s FY22 GDP

Fitch cuts India's FY22 GDP

Question: What is the new growth rate of Indian GDP as per the fitch rating agency for financial year 2021-22?
a) 10%
b) 8%
c) 8.7%
d) None of the above
Ans: c
Related Facts

  • Fitch Ratings in its latest report has cut India’s economic growth forecast to 8.7% for FY22.
  • Fitch has also raised GDP growth projection for FY23 to 10 per cent.
  • As per Fitch COVID-19 wave delayed rather than derail the economic recovery.
  • Fitch Ratings said India’s ‘BBB-/Negative’ sovereign rating “balances a still-strong medium-term growth outlook.
  • As per Fitch the Negative’ outlook, reflects uncertainty over the debt trajectory following the sharp deterioration in India’s public finances due to the pandemic shock.
  • The projections for 2021-22 fiscal compares to a contraction of 7.3 per cent recorded in the last financial year and a 4 per cent growth in 2019-20.

By Kameshwar shukla

Reference: https://www.business-standard.com/article/economy-policy/fitch-cuts-india-s-fy22-gdp-forecast-to-8-7-but-pegs-fy23-growth-at-10-121100700896_1.html