India's FY24 growth forecast has been retained at 6.3 per cent by Fitch Ratings, citing economic resilience despite tighter monetary policy and exports weakness.
Budget
India's growth forecast for this fiscal has been retained at 6.3 per cent by Fitch Ratings, citing economic resilience despite tighter monetary policy and exports weakness. The projection for the next fiscal is 6.5 per cent. The year-end inflation projection was raised based on El Nino threat. "Nevertheless, the threat of El Niño means that inflation could exceed our forecasts, although the impact on consumers and the economy is likely to be temporary," Fitch said. It expects 2023-end retail inflation at 5.5 per cent, higher than its previous forecast of 5 per cent. High-frequency indicators suggest that the pace of growth in the July-September quarter is likely to moderate, Fitch noted in its September update of the Global Economic Outlook.
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