Fitch slashes GDP forecast to 8.4% from 8.7% for FY22

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Fitch Ratings connected Wednesday chopped India's economical maturation forecast to 8.4 per cent for the existent fiscal twelvemonth ending March 31, 2022, but raised GDP maturation projection for the adjacent fiscal twelvemonth to 10.3 per cent.

Fitch had successful October forecast a GDP maturation of 8.7 per cent successful 2021-22 (April 2021 to March 2022) fiscal and 10 per cent successful FY23.

"We person chopped our FY22 (financial twelvemonth ending March 2022) GDP maturation forecast, to 8.4 per cent (-0.3 pp). GDP maturation momentum should highest successful FY23, astatine 10.3 per cent (+0.2 pp), boosted by a consumer-led betterment and the easing of proviso disruptions," Fitch said successful its Global Economic Outlook.

Also Read: RBI MPC meeting: GDP maturation retained astatine 9.5% for FY22

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