Fitch Solutions lowers India’s GDP growth to 4.9 per cent in FY20

Fitch Solutions recently lowered its forecast for India’s economic growth to 4.9 per cent in the current fiscal FY 20.

The main reason for the cut in rate was weak domestic demand and supply chain interruptions due to the coronavirus outbreak and a resulting dip in manufacturing. However, the GDP growth in in 2020-21 will recover to 5.4 per cent.