Fitch Ratings has predicted India's GDP growth forecast for FY - 2023-24 to 6% from 6.2% and 6.7% in FY - 2024-25.
* Reason : Headwinds from elevated inflation, interest rates, and subdued global demand
* The rating firm has also reaffirmed India’s long-term foreign-currency issuer default rating at ‘BBB-’ with a stable outlook
* ‘BBB’ issuer default rating indicates that expectations of default risk are currently low and payment capacity to meet financial commitments is considered adequate..
Source : Fitchratings
