Current Affairs - Economy - Discussion

Fitch Ratings has revised India’s GDP growth forecast for the financial year 2024-25 upward to 7.2% from the earlier estimate of 7%. This adjustment is based on anticipated improvements in consumer spending and ongoing investment, albeit at a slower pace than in recent quarters. The revision aligns with the Reserve Bank of India's forecast and contrasts with projections by other institutions like the IMF and ADB, which have set their estimates at 7% for the same period. Fitch's outlook factors in global economic conditions, including recovery in Europe and China's export sector, influence India's economic growth prospects.