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Fitch Revises India's GDP Growth To 12.8% For FY22.
In its latest Global Economic Outlook,Fitch revised India's GDP growth estimate beginning April 1 from previous 11%. Revision was made due to stronger carryover effect,a looser fiscal stance and better virus containment leading to quicker recovery from lockdown-induced recession.
GDP growth is to ease to 5.8% in FY23, a downward revision of -0.5% since December.