Login With Google
Fitch raises India growth forecast
Why in the news ?
- Fitch Ratings has upwardly revised its forecast for India’s economic growth to 7.8% from 7.4% for the current financial year ending in March 2019.
More in the news
- Indian economy grew 8.2% in April-June quarter.
- Reserve Bank of India expects Asia’s third-largest economy to grow 7.4% in the 2018-19 fiscal year.
- Fitch Ratings upped India's growth forecast to 7.8 per cent.
- However, it flagged tightening of financial conditions, rising oil bill and weak bank balance sheets as headwinds to growth.
- It also forecast inflation picking up to the upper part of the central bank's target band (4 per cent, plus-minus 2 per cent).
- Within the forecast horizon on relatively high demand-pull pressures and rupee depreciation.
Fitch Ratings
- Fitch Ratings Inc. is one of the "Big Three credit rating agencies", the other two being Moody's and Standard & Poor's.
- Fitch Group is a global leader in financial information services with operations in more than 30 countries.
- Fitch Group is comprised of:
1. Fitch Ratings : a global leader in credit ratings and research;
2. Fitch Solutions : a leading provider of credit market data, analytical tools and risk services; and
3. Fitch Learning : a preeminent training and professional development firm.
- Fitch Ratings is a leading provider of credit ratings, commentary and research.
- Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise.
- It is is headquartered in New York, US
Source
The Hindu, Fitchratings.