The growth rate is 7.2 percent
Fitch rated India’s growth rate for the current financial year. Fitch estimates that India is likely to grow at 7.4 per cent in 2018-19, which has been reduced to 7.2 per cent. Fitch said the growth rate has been lowered due to rising financial costs and credit availability.
Fitch has recently released the Global Economic Outlook. India is projected to grow at 7.2 per cent in the current financial year. The growth rate for the 2019-20, 2020-21 financial year would be 7, 7.1 percent, respectively. According to Fitch estimates last July, it is likely to be 7.4 per cent in the current fiscal and 7.5 per cent growth in 2019-20 fiscal year.
Fitch said, “We have lowered growth projections for higher costs and lowering of debt availability.” The current economic policies in the country have contributed to growth. Fitch estimates that the rupee will fall to 75 per dollar by the end of 2019. The banking sector continues to suffer from the problem of looting and banking finance companies are also worried about monetary stagnation.