Daily Current Affairs

Fitch retains India's growth forecast For FY24 At 6.3%

Current GK (IBPS-PO) Indian Economy

Fitch Rating retained India’s growth forecast for the current fiscal at 6.3% saying the Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, but upped year-end inflation projection on El Nino threat.
In its September update of the Global Economic Outlook, Fitch, however, said high-frequency indicators suggest that the pace of growth in the July-September quarter is likely to moderate.
Growth in the July-September quarter is likely to moderate as exports continue to weaken, credit growth static and the RBI’s latest bimonthly consumer confidence survey shows consumers becoming a little more pessimistic on income and employment prospects