Question : Which one of the following statement is correct regarding FITCH growth projections released on January 2021 ?
(a) Fitch puts FY 23-26 growth at 6.5 percent
(b) Fitch puts FY 23-26 growth at 6.5 percent
(c) Fitch puts FY 23-26 growth at 6.5 percent
(d) Fitch puts FY 23-26 growth at 6.5 percent
Ans.(a)
Related facts
- FITCH growth projections released on January 2021. Fitch Ratings is a leading provider of credit ratings, commentary and research for global capital markets.
India’s growth projections
- After the initial rebound to 11% in FY22, as the economy suffers lasting damage from the pandemic.
- India would face medium-term slowdown.
- Fitch Ratings projected India’s medium term growth to slow down to 6.5% from FY23 onward.
- Fitch puts FY 23-26 growth at 6.5 percent.
- This is well below pre-pandemic path even after crisis subsides.
- FY21 growth maintained at -9.4 percent, FY22 at 11 percent.
- It is notable that forecast of a 9.4% contraction in the ongoing fiscal, higher than the -7.7% growth projected by the government in its first advance estimates of GDP.
By — Pankaj Pandey.