Home / Economy / News / Fitch cuts GDP growth projections to 8.7% for FY22 from 10% earlier

Fitch cuts GDP growth projections to 8.7% for FY22 from 10% earlier

A day ahead of policy review, it expects RBI to hold policy rates during FY22

Premium

Fitch pegged the Centre's fiscal deficit at 7.2 per cent of GDP for the current financial year

4 min read Last Updated : Oct 08 2021 | 3:03 AM IST

Fitch Ratings has cut economic growth projections for India to 8.7 per cent for the current financial year from earlier forecast of 10 per cent due to the impact of second Covid wave.

It expected the Reserve Bank of India's monetary policy committee (MPC) to hold the policy rate until the next financial year as inflation would moderate. MPC would announce its decision on Friday.

The growth rate was lowered even as the rating agency said high frequency indicators point to a strong rebound in the second quarter of 2021-22 as business activity has again returned to pre-pandemic levels.

However,

Topics : Fitch Ratings India GDP growth Fitch lowers India's growth forecast GDP Indian Economy

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in