{"id":85801,"date":"2019-03-23T13:07:02","date_gmt":"2019-03-23T07:37:02","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=2872"},"modified":"2019-03-23T13:07:02","modified_gmt":"2019-03-23T07:37:02","slug":"fitch-cuts-india-gdp-growth-forecast-for-fy20-to-6-8-2","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/fitch-cuts-india-gdp-growth-forecast-for-fy20-to-6-8-2\/","title":{"rendered":"Fitch cuts India GDP growth forecast for FY20 to 6.8%"},"content":{"rendered":"\n<ol class=\"wp-block-list\"><li>Global rating agency Fitch has cut its India&#8217;s Gross domestic product(GDP) growth forecast to 6.8% for 2019-20 from the earlier estimate of 7%.It was cut due to weak momentum in manufacturing and agriculture.However,it said India\u2019s economic growth is expected to be 7.1% in 2020-21.<\/li><li>The weak momentum has been due to (a)credit availability has tightened up in areas heavily dependent on non-bank financial company(NBFC) credit like autos and two-wheelers where sales have dropped and (b)food inflation has been muted and fell into negative territory weighing on farmers incomes. However, capital infusion and a looser regulatory stance of the Reserve Bank of India (RBI) have eased the state banks capital constraints.<\/li><li>Fitch has also cut its global economic forecasts for 2019.It projected growth forecast for 2019 at 2.8% from 3.1% projected earlier.However,it retained China\u2019s growth projections at 6.6% in 2018 and 6.1% in 2019.<\/li><li>Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country\u2019s borders in a specific time period.GDP includes (a)all private and public consumption (b) government outlays (c)investments (d)private inventories (e)paid-in construction costs and the (f)foreign balance of trade(exports are added,imports are subtracted).<\/li><li>Fitch Ratings is an international credit rating agency based out of New York City and London.It is a leading provider of credit ratings, commentary and research.Along with Moody\u2019s and Standard &amp; Poor\u2019s, Fitch is one of the top three credit rating agencies<\/li><\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Global rating agency Fitch has cut its India&#8217;s Gross domestic product(GDP) growth forecast to 6.8% for 2019-20 from the earlier estimate of 7%.It was cut due to weak momentum in manufacturing and agriculture.However,it said India\u2019s economic growth is expected to be 7.1% in 2020-21. The weak momentum has been due to (a)credit availability has tightened&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/fitch-cuts-india-gdp-growth-forecast-for-fy20-to-6-8-2\/\">Continue reading <span class=\"screen-reader-text\">Fitch cuts India GDP growth forecast for FY20 to 6.8%<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[3276,1035,3277,42],"class_list":["post-85801","post","type-post","status-publish","format-standard","hentry","category-economy","tag-fitch-ratings","tag-gdp","tag-global-growth-forecast","tag-india","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700791520,"cached_date":1704847744},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/85801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=85801"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/85801\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=85801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=85801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=85801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}