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May 21, Monday 2018 8:08 PM       

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       India's growth will accelerate to 7.3%: Fitch
 
         Posted on :19:33:32 May 12, 2018
   
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       Last edited on:19:33:32 May 12, 2018
         Tags: India, growth 7.3%, Fitch
 

NEW DELHI: Credit rating agency Fitch said that India's economic growth will accelerate to 7.3 per cent in the current financial year and 7.5 per cent in the next fiscal year.

In its second-quarter Sovereign Credit Overview for Asia Pacific region, Fitch said the growth rate will accelerate as money supply has recovered to its pre-demonetisation level and disruptions related to the rollout of the Goods and Services Tax (GST) have diminished.

The agency said that India's ratings balance a strong medium-term growth outlook and favourable external balances against a weak fiscal position and difficult business environment.

But the country's business environment is likely to improve gradually with the implementation and continued broadening of the government's structural-reform agenda, Fitch said.

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