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India’s GDP forecasts
March 24 , 2019
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- Fitch Ratings agency cut India's economic growth forecast for the next financial year starting April 1, 2019.
- It has projected GDP Growth up to 6.8 per cent revised down from its previous estimate of 7 per cent.
- This is due to weaker than expected momentum in the economy.
- Fitch Ratings observes that Reserve Bank of India (RBI) has adopted a more market friendly monetary policy stance.
- RBI has taken such steps because of below-target inflation rate and easier global monetary conditions than previously envisaged.
- Fitch notes that a positive oil price outlook and expectations of ‘accelerating food prices’ in the coming months should support rural households’ income and consumption.
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