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.
The 2018-19 Union Budget unveiled yesterday contains a number of policy measures with the potential to support economic demand and social wellbeing.
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).
“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.
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
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
Mumbai: The country's infrastructure sector will get a huge boost from the multitude budgetary proposals, especially those on easing the funding for the sector, ratings agency Fitch said today. “The new Indian government...reasserted one of
Mumbai: As economic recovery continues to be slow, state-run banks are likely to face asset quality woes despite recent fall in non-performing loans, a report said. “The decline in non-performing loans recorded at many large
Mumbai: Two international rating agencies - Moody's and Fitch - have downgraded debt ratings of India's top three public-sector banks - State Bank of India, Bank of Baroda and Punjab National Bank - citing worsening
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