Fitch Ratings cuts India GDP growth forecast for FY20 to 6.8 per cent
Fitch Ratings cut India's FY19 GDP growth forecast to 7.2 per cent from 7.8 per cent on December 6. The rating agency has also cut growth forecasts for FY20 and FY21 to 7 per cent from 7.3 per cent and 7.1 per cent from 7.3 per cent, respectively.
Fitch said, it's benign oil price outlook and expectations of accelerating food prices in the coming months should support rural households' income and consumption. Image source: Reuters