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Fitch cuts India’s growth forecast to 0.8% in FY21 New Delhi, April 23 Fitch Ratings on Thursday slashed India’s economic growth projections to 0.8% in the current fiscal (2020-21), saying an unparalleled global recession was underway due to disruptions caused...

Tribune News Service

Updated At : 01:00 PM Apr 24, 2020 IST

Fitch cuts India’s growth forecast to 0.8% in FY21

New Delhi, April 23

Fitch Ratings on Thursday slashed India’s economic growth projections to 0.8% in the current fiscal (2020-21), saying an unparalleled global recession was underway due to disruptions caused by the outbreak of coronavirus pandemic and resultant lockdowns.

In its Global Economic Outlook, Fitch Ratings said India’s gross domestic product (GDP) growth will slip to 0.8% for the year April 2020 to March 2021 (FY21) as compared to an estimated 4.9% growth in the previous fiscal.

Growth is, however, expected to rebound to 6.7 per cent in 2021-22.