{"id":86325,"date":"2019-10-25T17:28:34","date_gmt":"2019-10-25T11:58:34","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=11163"},"modified":"2019-10-25T17:28:34","modified_gmt":"2019-10-25T11:58:34","slug":"fitch-cuts-indias-fy20-gdp-growth-forecast-to-5-5-per-cent","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/fitch-cuts-indias-fy20-gdp-growth-forecast-to-5-5-per-cent\/","title":{"rendered":"Fitch cuts India\u2019s FY20 GDP growth forecast to 5.5 per cent"},"content":{"rendered":"\n<p><strong>News:<\/strong>Fitch Ratings has reduced the growth forecast of India\u2019s gross domestic product(GDP) forecast to 5.5% in 2019-20 from 6.6%.<br><\/p>\n\n\n\n<p><strong>Facts:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Fitch has said that the decrease in credit availability due to crisis in non-bank financial companies (NBFC) sector has pushed Indian economic growth to a six year low.<\/li><li>It has also said that the slowdown in domestic spending and world trade has also weakened the Indian economy.<\/li><li>Further,the investment-led slowdown has also broadened into the consumption driven by financial stress among rural households and weak job creation.<\/li><li>However,it has said that the government has taken several policy measures such as (a)easing of NBFCs\u2019 liquidity positions by encouraging banks to purchase high-quality NBFC assets (b) capital is being injected into banks and (c)corporate tax cut to their lowest level.<\/li><li>Hence,these measures should help the economy in picking up the economic growth to 6.2% in 2020-21 and 6.7% in 2021-22.<\/li><\/ul>\n\n\n\n<p><strong>Additional information:<\/strong><br><\/p>\n\n\n\n<p><strong>About Fitch:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><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.<\/li><li>Along with Moody\u2019s and Standard &amp; Poor\u2019s,Fitch is one of the top three credit rating agencies.<\/li><\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>News:Fitch Ratings has reduced the growth forecast of India\u2019s gross domestic product(GDP) forecast to 5.5% in 2019-20 from 6.6%. Facts: Fitch has said that the decrease in credit availability due to crisis in non-bank financial companies (NBFC) sector has pushed Indian economic growth to a six year low. It has also said that the slowdown&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/fitch-cuts-indias-fy20-gdp-growth-forecast-to-5-5-per-cent\/\">Continue reading <span class=\"screen-reader-text\">Fitch cuts India\u2019s FY20 GDP growth forecast to 5.5 per cent<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[3900,3491],"class_list":["post-86325","post","type-post","status-publish","format-standard","hentry","category-economy","tag-fitch","tag-gdp-forecast","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700800300,"cached_date":1704936194},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86325","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=86325"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86325\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=86325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=86325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=86325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}