According to the rating agency, India’s positive GDP growth outlook stands out globally
Representational image
Mumbai: Global rating agency Fitch Ratings on Monday affirmed India’s rating at ‘BBB-’, the lowest investment grade with a stable outlook saying that a strong medium term GDP growth outlook and favourable external finances including a strong foreign reserves buffer would balance out weak structural features. The ‘Stable’ outlook reflects Fitch’s view that upside and downside risks to the ratings are balanced.
“India’s sovereign ratings and a stable outlook balance a strong medium-term GDP growth outlook and favourable external finances, including a strong foreign reserves buffer, with a high government debt burden and weak structural features, including a difficult - but improving - business environment,” Fitch Ratings said in a statement.
According to the rating agency, India’s positive GDP growth outlook stands out globally. Fitch forecasts India’s real GDP growth to accelerate to 7.5 per cent in the fiscal year ending March 31, 2016 (FY16) and 8.0 per cent in FY17, from 7.3 per cent in FY15, supported by the government’s beefed-up capex spending and gradual implementation of a broad-based structural reform agenda.
Download the all new Deccan Chronicle app for Android and iOS to stay up-to-date with latest headlines and news stories in politics, entertainment, sports, technology, business and much more from India and around the world.
( Source : deccan chronicle )
Next Story
