- Q. - What is the India’s GDP forecast for FY 17, as per Global rating agency Fitch?
Description Of This Question
The Global rating agency Fitch has forecasted India’s GDP growth for FY 17 to 7.1% and for both FY 2017-18 and FY 2018-19 to 7.7%. Fitch stated that the December quarter GDP number suggests that economic activity was hardly hit by the cash crunch after the government’s move to remove 86% of currency in circulation overnight. It expects the policy interest rate to stay at its current level of 6.25%. Fitch projection of growth for this fiscal is in line with the estimates of global think-tank Organisation for Economic Co-operation and Development (OECD).
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