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GDP seen growing at 8.7 pc in FY22, 10 pc in FY23: Fitch Ratings


The second Covid-19 wave delayed rather than derail India’s economic recovery and it is estimated to grow at 8.7 per cent for the current fiscal but will grow 10 per cent in FY 23, said Fitch Ratings. High-frequency indicators point to a strong rebound in the second quarter of the current fiscal as business activity has again returned to pre-pandemic levels. In its APAC Sovereign Credit Overview, Fitch Ratings said India’s BBB-/Negative sovereign rating balances a still-strong medium-term growth outlook and external resilience from solid foreign reserve buffers, against high public debt, a weak financial sector and some lagging structural factors, as per a report. 

 

Source: Exim News Service: New York, Oct. 12