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