Diabytes
Fitch Ratings News
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Fitch further said that GDP growth in January-March was higher than expected, saying there has been a recovery in manufacturing after two consecutive quarterly contractions, a boost from construction, and an increase in farm output.
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World Bank today said that the Indian government is on track to meet its fiscal deficit target of 6.4% of the GDP for 2022-23.
Fitch Ratings retained the economic growth forecast for India at 7% for the current fiscal.
World Bank also expressed optimism that India's real GDP would grow at 6.9% in the current fiscal.
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Fitch Ratings kept the rating unchanged at 'BBB-'.
Fitch cut the economic growth forecast to 7.8 per cent for the current fiscal.
Indian economy grew 8.7 per cent in the last financial year.
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However, the firm noted that the boost is short on major growth-enhancing structural reform announcements.
The planned acceleration in the infrastructure capex drive will likely provide a fillip to near- and medium-term growth if fully implemented.
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Fiscal year beginning April 1.
Previous estimate was 11 percent.
Recovery from the depths of the lockdown-induced recession.
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In a good news for India, Fitch Ratings said on Wednesday (June 10) that Indian economy would register a sharp growth rate of 9.5 per cent next year if it manages to avoid further deterioration in its financial sector.
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Listing positives for India, Fitch Ratings said there was greater confidence in a sustained reduction in general government debt over the medium term to a level closer to the 'BBB' peer median.
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Stating that an economic recession gripped global economy following the lockdowns due to COVID-19 pandemic, Fitch Ratings on Friday said the initial disruptions to regional manufacturing supply chains in China have now broadened to include local discretionary spending and exports.
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Bharti's ratings headroom is likely to improve with an equity infusion, planned asset sales and growing Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) from Africa, it noted.
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The Government Tuesday appointed former Economic Affairs Secretary Shaktikanta Das as the new Governor.
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Indian economy grew 6.7 percent in 2017-18 fiscal.
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The boards of each bank will meet to give a go-ahead to the proposed merger.
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It affirmed the long-term issuer default rating of Tata Motors' at 'BB+'.
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Fitch said the USD 151-billion stock of bad loans remains a risk for the sector's weak income base.
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Fitch said, Bharti's IDR reflects its market-leading position in India, solid spectrum portfolio and diversified and integrated operations that are likely to help it withstand intense competition in India's mobile segment.
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According to a statement from the credit ratings agency, PNB`s other ratings are unaffected by this downgrade.
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PNB, it says, still remains eligible as an account bank for Indian ABS transactions rated at 'BBB-sf'.
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The 2018-19 Union Budget unveiled yesterday contains a number of policy measures with the potential to support economic demand and social well being.
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Fitch, however, expects GDP growth to pick up in the next two years on back of gradual implementation of the structural reform agenda and higher real disposable income.
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The ratings on GCX are driven by its "relatively weak" trading position and its liquidity, it said cautioning that reduction of its cash balance to below USD 40 million could lead to negative rating action.
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