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Fitch said India's coronavirus-induced recession has been among the most severe in the world, amid a stringent lockdown and limited direct fiscal support.(HT Photos)

India's medium-term growth to slow to around 6.5% after initial rebound: Fitch

PTI
PUBLISHED ON JAN 14, 2021 10:26 AM IST
India's economy had been losing momentum even ahead of the shock delivered by the Covid-19 crisis. The rate of GDP growth sank to a more than ten-year low of 4.2 per cent in 2019, down from 6.1 per cent the previous year.
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While the government debt-to-GDP measure - often used as a rough measure for debt sustainability - stood at around 60% of GDP for both developing and developed markets, this masked a divergence in interest rates for the two groups, McCormack said.(Bloomberg (Representative Image))
While the government debt-to-GDP measure - often used as a rough measure for debt sustainability - stood at around 60% of GDP for both developing and developed markets, this masked a divergence in interest rates for the two groups, McCormack said.(Bloomberg (Representative Image))

Record rise in government debt will hit emerging markets harder, Fitch says

By Reuters | Posted by Nilavro Ghosh | London, UK
PUBLISHED ON JAN 06, 2021 05:30 PM IST
Global sovereign debt soared by $10 trillion to $77.8 trillion, or 94% of world gross domestic product, as governments boosted spending on health and shored up their economies roiled by the fallout from the coronavirus pandemic, Fitch calculated.
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Fitch forecasts Indian GDP to contract by 9.4 per cent in the financial year ending March 2021 (FY21) before expanding by 11 per cent in FY22 from a low base.(Reuters)
Fitch forecasts Indian GDP to contract by 9.4 per cent in the financial year ending March 2021 (FY21) before expanding by 11 per cent in FY22 from a low base.(Reuters)

Rise in Indian auto loan arrears to lag economic slowdown: Fitch

By Asian News International| Posted by Mallika Soni | Hong Kong
PUBLISHED ON DEC 09, 2020 07:25 PM IST
Fitch forecasts Indian GDP to contract by 9.4 per cent in the financial year ending March 2021 (FY21) before expanding by 11 per cent in FY22 from a low base.
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Fitch said raising medium-term growth rates under these circumstances will require reforms to support investment and boost productivity and it will take time to assess whether the reforms are implemented effectively.(AP file photo)
Fitch said raising medium-term growth rates under these circumstances will require reforms to support investment and boost productivity and it will take time to assess whether the reforms are implemented effectively.(AP file photo)

Pandemic-driven reform agenda can raise India’s medium-term growth, says Fitch

By Press Trust of India | Posted by Deepali Sharma | New Delhi
UPDATED ON NOV 20, 2020 02:27 PM IST
According to Fitch, the pandemic will slow medium-term growth, as damaged corporate balance sheets are expected to dampen investment for years.
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While the slowdown last quarter reflects, for the most part, a slump in investment before the election, high-frequency indicators since then suggest the economy’s lack of momentum has persisted.(Bloomberg image)
While the slowdown last quarter reflects, for the most part, a slump in investment before the election, high-frequency indicators since then suggest the economy’s lack of momentum has persisted.(Bloomberg image)

India’s growth slowdown set to deepen as consumers buckle

By Vrishti Beniwal | Bloomberg
UPDATED ON JUN 23, 2020 08:38 PM IST
Data due Friday is expected to show gross domestic product growth slowed for a fifth straight quarter to 5.7% in the three months ended June. That’s slower than the 5.8% expansion in the previous quarter.
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A sign sits on the glass wall of financial ratings agency Fitch Ratings in the Canary Wharf business district in London.(Bloomberg)
A sign sits on the glass wall of financial ratings agency Fitch Ratings in the Canary Wharf business district in London.(Bloomberg)

Fitch ups India’s growth forecast to 7.8% for FY19

By Press Trust of India | New Delhi
UPDATED ON SEP 21, 2018 05:59 PM IST
The upward revision in growth forecast comes in the backdrop of GDP expanding 8.2 per cent in April-June quarter, higher than Fitch’s expectation of 7.7 per cent.
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Unless PNB gets fresh capital in time, it may be unable to make the payment because an unprecedented loan-fraud wiped out its profits and pushed the bank’s capital below mandated levels, according to the local unit of Fitch Ratings.(Reuters File Photo)
Unless PNB gets fresh capital in time, it may be unable to make the payment because an unprecedented loan-fraud wiped out its profits and pushed the bank’s capital below mandated levels, according to the local unit of Fitch Ratings.(Reuters File Photo)

Govt set to inject Rs 2000 crore into fraud-hit Punjab National Bank by next week

By Siddhartha Singh and Anto Antony | Bloomberg
UPDATED ON JUL 17, 2018 01:15 PM IST
Fraud-hit PNB needs to pay about Rs 135 crore to cover the 8.98% annual interest on Rs 1500 crore worth of so-called AT1 bonds sold in July 2017.
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