Fitch: Fitch lowers growth forecast for FY13 – Times of India

New Delhi: All three major global rating agencies Moody’s, S&P and NOW Fitch There is a stable outlook for India’s sovereign rating, providing comfort to policy makers battling for secure growth against the backdrop of geopolitical tensions.
The rating also balances India’s external resilience from a solid forex reserves buffer against some backward structural indicators, according to Fitch Ratings, It said GDP grew at 8.7% in the fiscal year ended March 2022 (FY22), and GDP growth in FY23 is projected to remain strong at 7.8%, up from the 8.5% forecast in March. because the effects of inflation are dampening some of the positive growth momentum on global commodity price shocks.
The agency said India’s strong medium-term growth outlook as compared to peers is a key supporting factor for the ratings and will sustain a gradual improvement in credit metrics. Fitch Rating The U.S. said it expects inflation to remain at 6.9% in FY13 due to a sharp rise in global commodity prices and underlying demand pressures.