Fitch lowers India FY19 GDP growth forecast from 7.8% to 7.2%
Global rating agency Fitch on Thursday lowered India's GDP growth forecast to 7.2% in 2018-19, from 7.8% projected in September, citing higher financing costs and reduced credit availability. The agency also said it expects rupee to weaken to 75 against the US dollar by 2019 end. Fitch attributed this to a widening current account deficit and tighter global financing conditions.