Fitch Ratings Foresees FY27 Pace Slumping
Bhubaneswar, March 16: New York City-headquartered Goldman Sachs (a leading global investment banking, securities, and investment management firm) has reportedly curtailed India’s Gross Domestic Production (GDP)’s forecast to 6.5% from 7% for the fiscal year (FY) 2026.
Similarly, Fitch Ratings (a leading international credit rating agency) has reportedly predicted a slumping down pace of India’s economy from 7.5% to 6.7% in the very next fiscal year (FY) 2027.
Under the scenario of the Gulf crisis and shooting crude oil prices, Goldman Sachs has also reportedly assessed that it would trigger the rise in inflation from 3.9% to 4.2% by December this year while the inflation projection made by Fitch Ratings reportedly signals a rise to 4.5%.
Notwithstanding that, a section of economists have reportedly claimed, “India continues to be one of the fastest-growing major economies.”
The Government of India (GoI) has also reportedly revised the GDP base year to 2022–23 from 2011–12 to “better reflect evolving production and consumption patterns in the economy.”
Need to be mentioned that, the GoI has reportedly “revised the FY26 GDP growth estimate to 7.6%, up from the earlier projection of 7.4%.”
Briefing the press recently, Chief Economic Advisor (CEA) V Anantha Nageswaran has reportedly informed, “The Economic Survey has also revised its FY27 growth projection upward to 7%–7.4% under the new series compared with 6.8%–7.2% under the earlier series.”
CEA Nageswaran has also informed the press, “As per projections, India is on track to cross $4-trillion GDP mark in 2026-27.”
