Fitch Ratings lowers India’s  GDP contraction at 9.4% for FY21; 11% for FY22

Fitch Ratings lowers India’s  GDP contraction at 9.4% for FY21; 11% for FY22

• Fitch Ratings has revised the GDP growth rate for India in its Global Economic Outlook, and now expects the economy to contract 9.4 percent in the current financial year 2020-21, as compared to (-)10.5 percent forecast earlier.
• Fitch has also projected the FY22 GDP growth at 11 percent and 6.3 percent growth in FY23.

Points to Remember:

1. GDP of India in 2020-21 as per Fitch Ratings
2. GDP of India in 2021-22 as per Fitch Ratings
3. GDP of India in 2022-23 as per Fitch Ratings

Source: Business Standard