Tuesday, 3 October 2017

Fitch lowers India`s 2017-18 growth forecast to 6.9%

International ratings agency Fitch on Monday lowered India's growth forecast to 6.9 per cent, as the country's GDP growth unexpectedly faltered in the second quarter of 2017-18 (2Q17).
The ratings agency had earlier pegged India's GDP growth at 7.4 per cent.
According to Fitch's Global Economic Outlook (GEO) report, the downgrade came after the country's GDP growth faltered to 5.7 per cent (y-o-y) in 2Q17 from 6.1 per cent in the first quarter.
The 2Q17 GDP growth rate was the lowest outturn since early 2013. The report said that economic activity "may have been disrupted" in 2Q17 by firms running down inventory ahead of the implementation of the Goods and Services Tax (GST) in July.


1 comment:

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