Tag: Fitch

Fitch declined India growth forecast to 2% for FY21 from 5.1%

Fitch Ratings has trimmed the Indian growth forecast for fiscal year (FY) 2020-2021 to 2% from 1% following the economic recession caused due to lockdown amid COVID-19 pandemic. This would be the slowest growth in India over the past 30 years. On global front, Fitch has predicted a contraction of 1.9% to 1.3% in GDP (Gross Domestic Product) growth for FY 20-21.