Fitch lowers India's GDP growth rate to 4.8% for this fiscal

Subscribe to GoodReturns

Fitch lowers India's GDP growth rate to 4.8% for this fiscal
Fitch Ratings on Friday lowered India's growth forecast for the current fiscal to 4.8 per cent from 5.7 per cent estimated earlier, citing the weak demand in the economy.

The rating agency said that rupee's sharp depreciation against the US dollar has further dented the hopes of smooth turnaround in the growth.

Indian economy grew at pace of 4.4 per cent in April-June quarter of this fiscal as against 4.8 per cent growth in the previous quarter ended March 2013.

"Demand is weak, both externally and domestically, which is a biggest drag on the economy," the agency said.

Dion Global Solutions Ltd.

Read more about: gdp, fiscal, growth, domestic, overseas
Story first published: Friday, September 20, 2013, 21:50 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?