India’s economic growth to accelerate to 7.3% in current financial year FY19: Fitch

In its second-quarter Sovereign Credit Overview for Asia Pacific region, Credit rating agency Fitch has said that India’s economic growth will accelerate to 7.3% in the current financial year FY19 and 7.5% in the next fiscal. The growth rate will accelerate as money supply has recovered to its pre-demonetisation level and disruptions related to the rollout of GST have diminished. The rating agency said India’s ratings balance a strong medium-term growth outlook and favourable external balances against a weak fiscal position and difficult business environment. But the country’s business environment is likely to improve gradually with the implementation and continued broadening of the government’s structural-reform agenda.