‘Auto price hikes to dampen recovery after festive boost’
NEW DELHI: Indian automakers’ plans to pass on higher commodity prices to customers will dim the prospects for a demand recovery after December 2020, when the boost in some categories from pent-up demand and festive spending fades, and the economic impact from the coronavirus pandemic reasserts itself, said Fitch Ratings on Thursday. Accordingly, the ratings […]
Indian economy to contract 5% in FY21: Fitch Ratings
NEW DELHI: Fitch Ratings on Tuesday forecast the Indian economy to contract 5 per cent in the current fiscal on account of slump in economic activities following a “very severe” lockdown that has lasted much longer than expected. In its Global Economic Outlook (GEO) for May, Fitch projected growth to rebound to 9.5 per cent […]
India growth slipping to 0.8 in FY21: Fitch Ratings
NEW DELHI: Fitch Ratings on Thursday slashed India’s economic growth projections to 0.8 per cent in the current 2020-21 fiscal saying an unparalleled global recession was underway due to disruptions caused by the outbreak of coronavirus pandemic and resultant lockdowns. In its Global Economic Outlook, Fitch Ratings said India’s gross domestic product (GDP) growth will […]