Fitch: India’s GDP growth rate to slow down
Q. India’s GDP estimate for the current fiscal has been lowered from 7.8% on average monsoon to which percentage, as per Fitch Ratings?- Published on 01 Oct 15a. 7.3
b. 7.4
c. 7.4
d. 7.5
ANSWER: 7.5
Fitch Ratings has said in its Global Economic Outlook report that GDP growth in the first quarter had slowed from 7.5% to 7% in the preceding quarter based on moderating private consumption growth as well as lower net exports. India is one of the fastest BRICS nations with 7.5 investment. This estimate comes after RBI revised downwards real GDP forecast for 2015-2016 to 7.4% from earlier estimate of 7.6% indicating growth is expected to be picked up in the latter stage of the fiscal. Below average rainfall caused during this year’s monsoon season recorded at 14 percent under average is likely to somewhat grow. Agriculture constitutes 18% of India’s GDP. Regarding the China slowdown, India will be less affected by falling demand, Fitch said.
