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Fitch expects Indian GDP to 8 per cent for FY2020

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Fitch expects Indian GDP to 8 per cent :

  • An American credit rating agency Fitch Ratings has expected that for FY 2021-22, The Indian will be to 8 Per cent from 9.5 Per cent. Fitch mentioned the main reason is: Indian govt has imposed the toughest lockdown to prevent the outbreak of Coronavirus (COVID-19).
  • But, Fitch no made any changes in the last estimation that said the economy will be a 5 per cent decline for FY 2020-21.
  • In 2019-20, Indian growth rate is near 4.2 per cent and will increase at 5.5 per cent in 2022-23. However, agency forecasts a huge decline in the Indian economy with 13.8 per cent in the July-September quarter 2020.

About Fitch Ratings –
Headquarters – New York
CEO – Paul Taylor
Founder – John Knowles Fitch
Founded – 1914

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