New Delhi: International rating agency, Fitch Ratings retained India’s growth forecast for the current fiscal. Fitch Ratings retained the growth forecast at 6.3% for current fiscal. It also forecasted 6.5% growth for the next fiscal.
‘The Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, with growth outpacing other countries in the region,’ said Fitch.
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The Indian economy grew 7.8% in the April-June quarter of current fiscal on strong services sector activity and robust demand.
Meanwhile, the consumer price index-based retail inflation in India stood at 6.8% in August, following 7.4% in July and 4.9% in June. Fitch attributed this increase to sharp rises in the prices of items like tomatoes and other food products.
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