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By Homaxe

India economy to grow at 9.5% in next fiscal: Fitch Ratings

June 11, 2020

The Covid-19 pandemic has led to the shrinking in the economy. After a 5% contraction in the GDP for the ongoing financial year as predicted by the Fitch ratings of April, the Indian economy is all set to bounce back with a growth rate of 9.5% in the next fiscal year, according to Fitch ratings on Wednesday. It said, “After the global crisis, India’s GDP growth is likely to return to higher levels than “BBB” category peers, provided it avoids further deterioration in financial sector health as a result of the pandemic.