Fitch raises India's 2018-19 growth forecast to 7.8 per cent: statement
22 Sept 2018 10:47 AM IST
Economic outlook is subject to several headwinds including tightening of financial conditions.
Indian economy, GDP, slipped to a record low rate in August. (Photo: AP)
Fitch Ratings has upwardly revised its forecast for India’s economic growth to 7.8 per cent from 7.4 per cent for the current financial year ending in March 2019, it said in a statement on Friday.
“The economic outlook is subject to several headwinds including tightening of financial conditions, a rising oil bill and weak bank balance sheets,” the statement added.
Indian economy grew 8.2 per cent in April-June quarter and the Reserve Bank of India (RBI) expects Asia’s third-largest economy to grow 7.4 per cent in the 2018-19 fiscal year.
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