Fitch Ratings cuts India’s growth forecast to 5.1% for FY 2020-21
Fitch Ratings has recently cut India growth forecast to 5.1 per cent for FY 2020-21. Fitch had projected India to grow at 5.6 per cent in 2020-21 and 6.5 per cent in the following year, in its previous report released in December 2019.
In its Global Economic Outlook 2020, Fitch also estimated that India will witness increased number of people affected by coronavirus, in the coming weeks. It also announced that the outbreak will remain contained amidst the downside risks to this scenario.