Global Economic Outlook report, Fitch Ratings has cut India’s economic growth forecast for the next financial year 2019-20 to 6.8 per cent from its previous estimate of 7 per cent, on the account of weaker than expected momentum in the economy.

• Indian GDP growth to hold up reasonably well, at 6.8 per cent, followed by 7.1 per cent in 2021-22.
• India’s GDP growth for the financial year 2019-20 was reduced to 7.2 per cent from 7.8 per cent earlier in December 2018.

Fitch notes that benign oil price outlook and expectations of accelerating food prices in the coming months should support rural households’ income and consumption.