{"id":6344,"date":"2020-06-30T23:46:02","date_gmt":"2020-06-30T23:46:02","guid":{"rendered":"https:\/\/financeintellect.com\/home-page\/home\/?p=6344"},"modified":"2020-06-30T23:50:40","modified_gmt":"2020-06-30T23:50:40","slug":"fitch-ratings-cuts-down-indias-projected-growth-to-8-for-fy21-22","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/fitch-ratings-cuts-down-indias-projected-growth-to-8-for-fy21-22\/","title":{"rendered":"Fitch Ratings cuts down India\u2019s projected growth to 8 % for FY21-22"},"content":{"rendered":"

Mumbai, June 30 : Fitch Ratings, on Tuesday, cut India\u2019s growth forecast for 2020-21 fiscal to 8 per cent from 9 per cent projected last month.<\/p>\n

However, it retained the projected contraction of 5 per cent in Indian economy this fiscal.<\/p>\n

India\u2019s economic growth stood at an estimated 4.2 per cent last fiscal.\u00a0In its June update of ‘Global Economic Outlook\u2019, Fitch projected Indian economy to grow 5.5 per cent in 2022-23.<\/p>\n

Fitch said, \u201cin India, where authorities imposed one of the most stringent lockdowns to try to halt the spread of Coronavirus, measures are being\u00a0relaxed only very gradually, with a limited policy easing response and ongoing financial sector fragilities, we have put our 2021 forecast to 8 per\u00a0cent from 9.5 per cent in the previous GEO.\u201d<\/p>\n

In its May update to the outlook, Fitch had projected 9.5 per cent growth in 2020-21.<\/p>\n

S&P has forecast a 5 per cent contraction this fiscal and the growth to recover to 8.5 per cent next fiscal.<\/p>\n

Moody\u2019s expects India\u2019s GDP to contract by 4 per cent in Fiscal 2020 due to the pandemic and lockdown measures followed by 8.7 per cent\u00a0growth in Fiscal 2021 and closer to 6 per cent thereafter.<\/p>\n

 <\/p>\n

Also read:\u00a0Indian Economy to grow at 9.5 % next fiscal : Fitch Rating<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Mumbai, June 30 : Fitch Ratings, on Tuesday, cut India\u2019s growth forecast for 2020-21 fiscal to 8 per cent from 9 per cent projected last month. However, it retained the projected contraction of 5 per cent in Indian economy this fiscal. India\u2019s economic growth stood at an estimated 4.2 per cent last fiscal.\u00a0In its June […]<\/p>\n","protected":false},"author":3,"featured_media":6239,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,5,31],"tags":[37,4216,4240,36],"class_list":["post-6344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-and-politics","category-markets","category-news","tag-bse","tag-covid","tag-fitch","tag-nse"],"aioseo_notices":[],"yoast_head":"\nFitch Ratings cuts down India\u2019s projected growth to 8 % for FY21-22 - Finance Intellect<\/title>\n<meta name=\"description\" content=\"Fitch Ratings, on Tuesday, cut India\u2019s growth forecast for 2020-21 fiscal to 8 per cent from 9 per cent projected last month.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeintellect.com\/home-page\/home\/fitch-ratings-cuts-down-indias-projected-growth-to-8-for-fy21-22\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fitch Ratings cuts down India\u2019s projected growth to 8 % for FY21-22 - 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