INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Fitch Ratings Thursday revised downwards the country's gross domestic product (GDP) growth forecast to 7.2 per cent for current
fiscal citing higher financing cost and reduced credit availability
In its Global Economic Outlook, Fitch projected that for 2019-20 and 2020-21 financial years, India's GDP growth will be 7 per cent and 7.1
Fitch had in June projected India to grow at 7.4 per cent in current fiscal and 7.5 per cent in 2019-20
"We have lowered our growth forecasts on weaker-than-expected momentum in the data (GDP), higher financing costs and reduced credit
We now see GDP growth at 7.2 per cent in the fiscal year ending March 2019 (FY19), followed by 7.0 per cent in FY20 and 7.1 per cent in
Other components of domestic demand fared well, notably investment, which has been steadily strengthening since 2H17
said India's fiscal policy should continue to support growth in the run-up to elections in early 2019."Stepped-up public investment has
helped to stem the downward trend in the investment/GDP ratio, boosted by infrastructure spending
of non- performing assets, while non-banking financial institutions (NBFIs) are facing tighter access to liquidity following the default of
expects inflation to edge up mildly in the coming months, on normalising food prices and higher import prices stemming from the depreciation
of the rupee (INR).It forecast the rupee to weaken to 75 to a dollar by end of 2019
"The widening of the current account deficit amidst tighter global financing conditions should put downward pressure on the currency, and we
forecast the INR to weaken to 75 against the dollar by end-2019," it said.For the latest News Live Updates on Election Results from each
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