Fitch raises India's GDP forecast to 6.3% for current fiscal year

Fitch raises India's GDP forecast to 6.3% for current fiscal year

Daily Current Affairs / Fitch raises India's GDP forecast to 6.3% for current fiscal year

Change Language English Hindi

Category : Business and economics Published on: June 24 2023

Share on facebook

Fitch Ratings revised upwards its FY24 economic growth forecast for India to 6.3 per cent from 6 per cent it had predicted earlier.
The growth forecast compares with 7.2 per cent GDP expansion in FY23. In the previous fiscal year (FY22), the economy had grown 9.1 per cent.
Fitch had in March lowered its forecast for 2023-24 to 6 per cent from 6.2 per cent citing headwinds from elevated inflation and interest rates along with subdued global demand.
For 2024-25 and 2025-26 fiscal years, it estimated a growth of 6.5 per cent each.
The Reserve Bank of India (RBI) has kept policy rates at 6.5 per cent since the start of the year, while headline inflation eased from a peak of 7.8 per cent to 4.3 per cent in May, a figure that is already within the RBI’s tolerance band of 2-6 per cent.
Wholesale price index based inflation (WPI) has also fallen to its lowest in more than seven years to (-) 3.48 per cent in May.

Recent Post's

Mauritius awarded its highest honor, ‘Order of the Star and Key of the Indian Ocean,’ to PM Modi.
Read More....
The government will establish daycare cancer centers in every district within three years.
Read More....
According to the second advance estimates of the Ministry of Agriculture, India achieved a record food grain production in the 2024-25 session, with Kharif at 16.6391 million tonnes and Rabi (excluding summer crops) at 16.4527 million tonnes.
Read More....
India signed an MoU with Armenia for cooperation in the regulation of medical products.
Read More....
The joint military exercise Khandjar-XII between the special forces of India and Kyrgyzstan began in Tokmok, Kyrgyzstan, and will be held from March 10 to 23, 2025.
Read More....
Dr. Jaishree Venkatesan became the first Indian to win the prestigious Ramsar Award in the ‘Wetland Wise Use’ category and was recognized as a female changemaker in wetlands by the Ramsar Secretariat.
Read More....
Self-Help Groups (SHGs) of Andhra Pradesh set four world records—one Guinness and three World Records Union records, with DWCRA members achieving 3 lakh orders worth ₹5.13 crore in a week on ONDC.
Read More....
Union Health Minister J.P. Nadda inaugurated the third International Symposium on Health Technology Assessment (ISHTA 2025) at Bharat Mandapam, organized by the Department of Health Research in collaboration with WHO India and the Centre for Global Development.
Read More....
No Smoking Day is observed every year on the second Wednesday of March.
Read More....
Mumbai will host the WAVES 2025 Summit, with a high-level meeting co-chaired by the Chief Secretary of Maharashtra and the Secretary of the Ministry of Information and Broadcasting.
Read More....