Menu
BW CFO World
Community for Finance Professionals, Consultants and allied businesses
  • Home
  • News
  • Videos
  • Articles
    • Credit & Capital
    • Economic Trends
    • Financial Compliance
    • Financial Leadership
    • Financial Management
    • Financial Reporting
    • Financial Strategy
    • Risk Management
    • Taxation
  • Featured
  • Nominate for Awards
Close Menu
20211117_094720
November 17, 2021

Fitch Ratings Keeps India’s Ranking Unchanged

Urvi Srivastava Financial Reporting

Fitch Ratings on Tuesday said the risks to India’s medium-term growth outlook are narrowing with rapid economic recovery from the pandemic and easing financial sector pressures as it kept the sovereign rating unchanged at ‘BBB-‘ — the lowest investment grade rating– with a negative outlook.

The rating balances a still-strong medium-term growth outlook and external resilience from solid foreign-reserve buffers, against high public debt, a weak financial sector and some lagging structural issues, it said.

“We forecast robust GDP growth of 8.7 per cent in the fiscal year ending March 2022 (FY22) and 10 per cent in FY23 (ending March 2023), supported by the resilience of India’s economy, which has facilitated a swift cyclical recovery from the Delta Covid-19 variant wave in 2Q21,” Fitch said while affirming India at ‘BBB-‘; with a negative outlook.

Fitch forecast growth of around 7 per cent between FY24 (fiscal ending March 2024) and FY26 (fiscal ending March 2026), supported by the government’s reform agenda and the closing of the negative output resulting from the pandemic shock.

“The government’s production-linked incentive scheme to boost foreign direct investment, labour reform and the creation of a ‘bad bank’, along with an infrastructure investment drive and the National Monetisation Pipeline, should support the growth outlook if fully implemented. Nevertheless, there are challenges to this outlook, given the uneven nature of the economic recovery and reform implementation risks,” Fitch said.

Urvi Shrivastav

→ Urvi Shrivastav

WPI Hike: Can’t Blame India, Inflation Now Is Global, Says Kaushik Basu SBI Ecowrap – Q2 FY22 GDP pegged at 8.1%

Related Posts

Financial Reporting

Indian economist Jayati Ghosh named by UN to the high-level advisory board on multilateralism

nirmala sitharaman shuttershock

Financial Reporting

FM Raises Concern On Rising Oil Prices

economy

Financial Reporting

Sensex Tanks Over 2,700 Pts

Movements

  • adobe danDan Durn Appointed As Adobe’s New Chief Financial Officer
  • Vineet Mahajan_Vineet Mahajan Appointed As New CFO Of Avanse Financial Services On Sept 27
  • bharat pet director financeVetsa Ramakrishna Gupta To Lead Bharat Petroleum As Director Finance
  • tender cuts cfoTenderCuts Names Satya Rakesh as New CFO
  • dailmer CFOManish Thakore Helms Daimler India Commercial Vehicles as CFO

Selected Stories

  • Chandrasekar-K-1Leading with empathy is the correct mantra for success

    Read more

  • 20220331_113353Govt orders probe into fire incident involving Ola

    Read more

  • indian rupeeAsian stocks rise as Ukraine peace talks appear to progress

    Read more

  • economyTata Coffee rallies nearly 13 pc; Tata Consumer jumps over 5 pc

    Read more

  • rupeeRupee rises 4 paise to 75.69 against US dollar in early trade

    Read more

Categories

  • Accounting
  • CFO Stance
  • Credit & Capital
  • Economic Trends
  • Featured
  • Financial Compliance
  • Financial Leadership
  • Financial Management
  • Financial Reporting
  • Financial Strategy
  • Financial Technologies
  • Global News
  • Interview
  • Movements
  • Risk Management
  • Taxation

Recent Comments

    Back To Top
    BW CFO World
    • Home
    • News
    • Videos
    • Articles
      • Credit & Capital
      • Economic Trends
      • Financial Compliance
      • Financial Leadership
      • Financial Management
      • Financial Reporting
      • Financial Strategy
      • Risk Management
      • Taxation
    • Featured
    • Nominate for Awards
    © Copyright BW BUSINESSWORLD 2018. All Rights Reserved.