Expecting a strong expansion in the Indian economy next fiscal year, Global ratings agency Fitch Ratings on Thursday (March 14) raised India’s FY25 GDP growth forecast to 7 per cent from 6.5 per cent earlier. “Prospects for EM (ex China) have also brightened, particularly in India, where we now expect growth to reach 7.8 percent in the fiscal year ending March 2024 (FY24) and 7 per cent in FY25, both sizable upward revisions. With GDP growth having exceeded 8 per cent for three consecutive quarters, we expect an easing in growth momentum in the final quarter of the current fiscal year, implying an estimate of 7.8 per cent for growth in FY 23-24,” Fitch said in its latest report. The rating agency expects a 50 bps interest rate cut by the Reserve Bank of India (RBI) from July to December 2024. Also, as per Fitch, India’s CPI inflation will gradually decline to 4 per cent by the end of this year (ICE NEW DELHI)

Fonte notizia: The Indian Express