Question:What is the forecasted growth rate of Indian economy in 2021-22 fiscal according to Fitch Ratings?
(a) 9.5
(b) 8.5
(c) 6.5
(d) 8.2
Answer: (a)
Related facts:
- American credit rating agency Fitch has forecasted Indian economy to bounce back with a sharp growth rate of 9.5 percent next fiscal.
- It has forecasted a 5 percent contraction in the GDP in the ongoing financial year.
- The Agency emphasized that India’s GDP growth is likely to return to higher levels than ‘BBB’ category peers.
- The up-geared economy is as a result of eased monetary policy by RBI combined with downed policy rates and liquidity provided through long-term repo operations.
- Prudential requirements for banks have also been eased to free up liquidity for lending.
- The estimated growth rate is also supported by government ‘s stimulus measures amounting to 10 percent of GDP.
By-Amar Mani Upadhyay