Fitch Ratings raises India’s growth forecast for 2018-19 to 7.4% from 7.3%

As per latest report “Global Economic Outlook”, Fitch Ratings has raised India’s growth forecast for 2018-19 to 7.4% from 7.3%, but cited higher financing costs and rising oil prices as risks to growth. It also said that the rupee has been among the worst performers vis-a-vis Asian currencies this year. For FY20, it estimated the country to grow at 7.5%. However, higher financing costs (stemming from monetary tightening and higher market premiums) and rising oil prices should limit the upside to growth.