Fitch estimated India's GDP growth to be 7 per cent and 7.1 per cent in financial years 2019-20 and 2020-21 respectively. Indian economy grew 6.7 per cent in 2017-18 fiscal.
"We have revised up our forecast for FY2018-2019 growth to 7.8 per cent from 7.4 per cent on the back of the better-than-expected 2Q18 outturn. India's growth likely peaked in 2Q18 (April-June) though," Fitch said.
It projected India's growth at 7.3 per cent in current the fiscal and further to 7.5 per cent in 2019-20. Growth is projected to be 6.7 per cent in the last fiscal, ended March 31.
A fraud of around $2.2 billion took place in PNB, the second largest in public sector, by diamond trader Nirav Modi and his uncle Mehul Choksi.
The 2018-19 Union Budget unveiled yesterday contains a number of policy measures with the potential to support economic demand and social wellbeing.
The move is likely to have an impact on global rating agencies like S&P, Moody's and Fitch which have significant holdings in domestic agencies besides their direct presence.
It also cut GDP growth forecast for 2018-19 fiscal year to 7.3 per cent from 7.4 per cent predicted in its September Global Economic Outlook (GEO).
India’s 30-place leap in the World Bank’s ‘Doing Business 2018’ rankings affirm India’s growth story as well as the Centre’s reforms agenda.
Fitch on Monday lowered India's growth forecast to 6.9 per cent from earlier prediction of 7.4 per cent.
“GST will unify the indirect tax system and remove domestic barriers to trade, which should support productivity gains and GDP growth over the long term,” Fitch said.
'It appears that the cash squeeze of November 2016 whereby the government pulled 86 per cent of cash in circulation out of the economy virtually overnight finally did have a material impact on spending,' it said
Anil Ambani-led Reliance Communications is struggling to repay Rs 45,000 crore of debt to its lenders.
Global ratings agency Fitch today said that the Indian economy will grow by 7.1 per cent in the current fiscal before stepping up to 7.7 per cent in the next two financial years.
Finance Minister Arun Jaitley in his Budget for 2017-18 proposed to merge some of the 13 state oil firms to create an integrated public sector oil major.
Global credit rating agency Fitch Ratings on Friday said demonetisation has had a negative impact on repayment of Indian auto loans and that it would take a couple of months for collections to come back to normal levels.
Chennai: Global credit rating agencies -- Moody's Investors Service (Moody's) and Fitch Ratings -- termed India's fiscal budget for 2016-17 as credit positive for sovereign rating, but pointed out certain uncertainties."The budget is modestly credit
Chennai: India is better placed than many of its peers after the American central bank - the US Federal Reserve - raised its key interest rates, said credit rating agency Fitch Ratings on Thursday."India is
New Delhi: Fitch Ratings has given a stable outlook to Indiabulls Real Estate and expects the realty firm's debt to reduce by more than Rs 700 crore this fiscal.Fitch Ratings affirmed Indiabulls Real Estate Ltd's
NEW DELHI: Global rating agency Fitch today said the likely upturn in the country's investment climate and reduction in interest rates will improve the property market by the end of March 2016 and provide relief
New Delhi: Global rating agency Fitch today retained India's credit outlook at 'stable' saying although "dynamism" is back in the economy translation of reforms into higher growth would depend upon actual implementation.The agency also raised
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