US rating agency Fitch Ratings (Fitch) has updated its estimate of India’s GDP growth (GDP growth) for the financial year 2022. India’s GDP growth in FY 22 is up 12.8 per cent, Fitch said. Previously, Fitch had forecast FY2022 GDP growth at 11 percent. The rating agency has updated its growth estimates, giving it a strong carryover effect and better control of the corona virus.
GDP growth is expected to be 5.8% in FY-23
Fitch said in his recent Global Economic LoLook (GEO) that India and Turkey have major revisions. India’s GDP has rebounded in the second half of 2020 and reached its pre-epidemic level (the level before the Kovid-19 pandemic). Fitch estimates GDP growth to be 5.8 per cent in fiscal year 2023. In addition, the rating agency has revised the lows to 0.5p from December (reducing the growth estimate from scratch).
