Fitch increased India’s growth rate estimate to 6.2 percent. Loktej Business News
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New Delhi, 06 November (HS). There is good news for the country’s economy before Diwali. Global rating agency Fitch Ratings has increased India’s economic growth estimate to 6.2 percent. The rating agency has increased its estimate by 0.70 percent. Earlier, Fitch Ratings had estimated India’s growth rate at 5.5 percent.
Rating agency Fitch said in its latest estimate released on Monday that we have upgraded India and Mexico on a large scale. According to the agency, India’s growth rate estimate has been increased from 5.5 percent to 6.2 percent and Mexico’s growth estimate has been increased from 1.4 percent to 2 percent. Fitch said India’s growth forecast has been raised due to the rapid improvement in the labor force participation rate after a sharp decline in 2020.
Global rating agency Fitch Ratings said that the growth rate of the Indian economy is estimated to be 6.5 percent in the financial year 2024-25 and financial year 2025-26. However, Fitch has reduced the growth forecast for China from 5.3 per cent to 4.6 per cent, for Russia from 1.6 per cent to 0.8 per cent, for Korea from 2.3 per cent to 2.1 per cent and for South Africa from 1.2 per cent. It has been reduced to 1.0 percent.
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