2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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8%
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7.9%
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6%
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6.8%
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Detailed explanation-1: -Fitch has projected India’s GDP to grow at 7% in the current fiscal, at 6.2 per cent in 2023-24 and at 6.9 per cent in 2024-25.
Detailed explanation-2: -Fitch Ratings has retained India’s GDP growth forecast at seven per cent for 2022-23. However, GDP growth projection for 2023-24 and 2024-25 has been revised downwards to 6.2 per cent and 6.9 per cent, respectively.
Detailed explanation-3: -Fitch Affirms India at ‘BBB-’; Outlook Stable. Fitch Ratings - Hong Kong - 20 Dec 2022: Fitch Ratings has affirmed India’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-’ with a Stable Outlook. A full list of rating actions is at the end of this rating action commentary.
Detailed explanation-4: -"For India, the 2022 real GDP growth projections have been lowered to 7 per cent from 7.7 per cent. The downward revision assumes higher inflation, high-interest rates and slowing global growth will dampen economic momentum by more than we had previously expected, ” the agency said in its Global Macro Outlook 2023-24.
Detailed explanation-5: -Earlier Fitch has also revised India’s ‘BBB-’ sovereign rating to Stable from Negative in June 2022. The gross domestic product (GDP) was reinstated by 8.7% in FY22 after contracting by 6.6% in FY21. It has also projected that medium-term growth potential of around 7% between FY24 and FY27.