Fitch slashes India’s GDP Growth Projection to 8% from 9.5% for FY22

Fitch Ratings has cut India’s growth forecast for the fiscal year 2021-22 to 8 percent from its earlier projection of 9.5 percent, in its June update of Global Economic Outlook.
However, the rating agency has retained its projection for the current fiscal which is expected to contract by 5 percent in the 2020-21.
Meanwhile, Fitch projected Indian economy to grow 5.5 percent in 2022-23.