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

  • The Ministry of Ayush will organise the National Arogya Fair 2026 in Shegaon, Maharashtra, providing free consultations, check-ups, and medicines under traditional healthcare systems.

    Read More....

  • The NGT has directed Uttar Pradesh to restore Suav’s classification from a drain to a river, amend records, and monitor floodplains and water quality.

    Read More....

  • Goa will host the 4th World Ocean Science Congress 2026, focusing on ocean health, climate resilience, and the blue economy.

    Read More....

  • India has launched “Prahaar,” its first comprehensive counter-terrorism policy addressing cross-border, cyber, and emerging technology threats.

    Read More....

  • Netherlands will swear in 38-year-old Rob Jetten as its youngest and first openly gay prime minister.

    Read More....

  • India will observe Central Excise Day 2026 on 24 February to honour the enactment of the Central Excise Act, 1944.

    Read More....

  • The statue of Edwin Lutyens at Rashtrapati Bhavan will be replaced with that of C. Rajagopalachari.

    Read More....

  • Punjab has launched the ‘Meri Rasoi’ scheme to provide free food kits to nearly 40 lakh economically weaker families.

    Read More....

  • PhonePe introduces AI-powered natural language search for voice- and text-based transactions, enhancing convenience and personalization.

    Read More....

  • Switzerland will host the AI Summit 2027 in Geneva, providing a neutral hub for global AI discussions and cooperation.

    Read More....