Fitch slashed India’s growth projection

Global rating agency Fitch has scaled down its projections on India’s growth to 4.8% for the current fiscal from the earlier estimate of 5.7% made in June, 2013.

Why did Fitch scaled down India’s growth prospects?

The following are the key reasons behind the cut in growth projections:

  • Weak Indian currency against dollar
  • Expanding Current Account Deficit (CAD) on account of rising crude prices and falling rupee
  • Weak demand

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