Fitch reaffirms India rating at BBB- with stable outlook; forecasts FY20 GDP growth at 4.6%. Economic growth in India likely to remain muted in the December and March quarters of FY20, says IMF Chief.
Staying Put: Fitch Ratings has affirmed India’s Long-Term Foreign-Currency Issuer Default Rating (IDR) ratings at 'BBB-' with a stable outlook.
The rating agency said that India’s growth outlook is still ‘solid’ as compared to peers, projecting India’s current financial year 2019-20 at 4.6%.
"We expect growth to gradually recover to 5.6% in FY21 and 6.5% in FY22 with support from easing monetary and fiscal policies and structural measures that may also support growth over the medium term," Fitch said in a statement. Financial Express
Meanwhile: Gita Gopinath, Chief Economist at the International Monetary Fund noted that India's economic growth, which has been contracting for last several quarters, is likely to remain muted in the December and March quarters of FY20.
Gopinath said GDP growth was expected to pick up in the last two quarters of FY20 but some high-frequency indicators show that a recovery is unlikely. ET Markets
Hand-curated Business News from Top Publishers & Platforms, Richly Crafted to Fit into One Wholesome Email. Subscribe Now to receive a nuanced 360 Degree account of key events from the World of Business and Finance every day.