Indian economy to grow at 9.5 pct in next fiscal, says Fitch Ratings

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Indian economy to grow at 9.5 pct in next fiscal, says Fitch Ratings

After a contraction in the current financial year, India’s economy is forecast to bounce back with a sharp growth rate of 9.5% next fiscal, Fitch Ratings has said. It has forecast a 5% contraction in the GDP in the ongoing financial year. Fitch Ratings said after the global crisis, India’s GDP growth is likely to return to higher levels than ‘BBB’ category peers.

Fitch Ratings Inc. is an American credit rating agency and is one of the “Big Three credit rating agencies”. It is one of the three nationally recognized statistical rating organizations designated by the U.S. Securities and Exchange Commission in 1975.