Days after India’s economy showed signs of recovery, Fitch Ratings on Monday cut the country’s GDP growth forecast for the current fiscal to 6.7% from the earlier projected 6.9%, saying that the rebound was weaker than expected.
It also cut GDP growth forecast for 2018-19 fiscal year to 7.3% from 7.4% predicted in its September Global Economic Outlook (GEO).
Fitch, however, expects GDP growth to pick up in the next two years on back of gradual implementation of the structural reform agenda and higher real disposable income.
