Skip to content
Search

Latest Stories

Submit Guest Post

Fitch cuts India’s economic growth forecast to 6.8 per cent

Easterneye.Biz Staff
By Easterneye.Biz StaffMar 22, 2019
Easterneye.Biz Staff
See Full Bio

FITCH RATINGS cut India’s economic growth forecast for financial year (FY) 2019-20 to 6.8 per cent from its previous projection of seven per cent. 

"While we have cut our growth forecasts for the next fiscal year on weaker-than-expected momentum, we still see Indian GDP growth to hold up reasonably well, at 6.8 per cent, followed by 7.1 per cent in FY21," Fitch said in its Global Economic Outlook.      

The rating agency has also cut growth forecasts for FY20 and FY21 to 7 per cent from 7.3 per cent and 7.1 per cent from 7.3 per cent, respectively.     

"On the fiscal side, the budget for FY20 plans to increase cash transfers for farmers," Fitch added.       

Fitch noted that, it's benign crude oil price outlook and expectations of accelerating food prices in the coming months should support rural households' income and consumption. 

fitchindiaeconomic growthratings
Add EasternEye As Your Trusted Source
preferred source on google news

Related News

Sanjay Bhandari's extradition appeal opens in London
Business

Sanjay Bhandari's extradition appeal opens in London

Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)
Business

Murdoch's bid to secure eldest son's control of media empire fails

Kamlesh Pattni faces UK sanctions for illicit gold trade
Business

Kamlesh Pattni faces UK sanctions for illicit gold trade

Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)
Business

India appoints Sanjay Malhotra as new central bank governor

EasternEye

More For You

EU Canada

Ursula von der Leyen has proposed a new form of EU relationship with Canada as Mark Carney seeks closer ties with Europe

iStcck

Why is Canada being offered a place in the EU that does not yet exist?

  • Canada could become the EU’s first-ever “associate member” under a status that does not currently exist.
  • The proposed partnership could cover defence, AI, energy, critical minerals and advanced technology.
  • The offer comes as Canada looks to reduce its dependence on US trade and build closer ties with Europe.

Something unusual happened in the European Parliament on Wednesday: the European Union offered Canada a relationship that the EU does not currently have a formal category for.

European Commission president Ursula von der Leyen said she wanted to work with Canadian prime minister Mark Carney on making Canada the bloc’s first “associate member”. She said the EU and Canada “see the world with the same eyes”, pointing to shared democratic values and common positions on issues ranging from artificial intelligence and climate change to Ukraine and geopolitics.

Keep ReadingShow less