Context:
Fitch Ratings reduced India’s GDP growth for 2024-25 to 6.4% from 7.2% but does not expect the slump to be extended.
Key Highlights:
- CareEdge also revised downwards its GDP growth forecast for the country to 6.5% from 6.8% considering the slow GDP growth during the July-September period as well as a deeper fall in corporate profit.
- In 1993, CareEdge Ratings (CARE Ratings Ltd) has established itself as one of India’s leading credit rating agencies.
- CareEdge expects that the slowdown is temporary and forecasts a 6.8% GDP growth for the second half of the fiscal year.
- Fitch saw household consumption as the major engine of India’s economic growth in a possible trade war scenario and a slowdown in global trade.
- Fitch Ratings Inc. is one of the three nationally recognized statistical rating organizations (NRSRO).
- Established
- 1914
- Headquarter
- New York City
Other Institution Forecast:
- Asian Development Bank downgraded GDP to 6.5 percent instead of the earlier 7 percentage point estimate, considering the lower growth prospects of private investment and housing demand.
- The RBI has reduced its earlier projection for GDP growth in 2010-11 from 7.2 percent to 6.6 percent.
Also read: Comparing GVA and GDP
