India's growth forecast slashed to 30 year low of 2% for fiscal 2021 by Fitch
Economy

India's growth forecast slashed to 30 year low of 2% for fiscal 2021 by Fitch

Agency News

Fitch Ratings on Friday said it has slashed India's growth forecast for the current fiscal to a 30-year low of 2 per cent, from 5.1 per cent.

This sudden fall in the projection is after the economies around the world have been hit badly amid the coronavirus outbreak. On March 20, Fitch had projected India's GDP growth for 2020-21 at 5.1 per cent, lower than 5.6 per cent estimated in December 2019.

Moody had also slashed the estimate earlier.

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