Fitch Affirms BBB- Rating, Says COVID Surge May Delay India's Economic Recovery

Fitch Ratings on Thursday said the resurgence of COVID19 infections may delay India's economic recovery, but won't derail it, as it kept the sovereign rating unchanged at 'BBB' with a negative outlook. It projected a 12.8 per cent recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8 per cent in FY23, from an estimated contraction of 7.5 per cent in 202021.

from Top Business News- News18.com https://ift.tt/3es5nEv