Mumbai: US based rating agency, Fitch on Thursday revised India’s FY25 growth forecast. The agency raised India’s GDP growth forecast to 7% from the 6.5% projected earlier. The rating agency also expects the RBI to go for a 50 bps rate cut from July to September. It also predicted that India’s CPI inflation will decline by 4% by end of 2024
‘Overall, the economy ticks many boxes in the right way…so there is a case for international agencies to reappraise their estimate of potential GDP growth in India closer to 7 percent, if not above,’ said hief economic advisor V Anantha Nageswaran.
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Earlier, another ratings agency Moody’s pegged the economic growth at 6.4 per cent in 2025 while revising its forecast for the current year to 6.8 per cent from 6.1 per cent.
Last month, the Reserve Bank of India (RBI) projected the country’s GDP growth at 7.2 per cent in the first quarter of FY25, 6.8 per cent in the second, 7.0 per cent in the third, and 6.9 per cent in the fourth.
Official GDP data on the final three months of the current financial year is due on May 31.
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