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India's economy to grow at 7.4-7.6% in next two fiscals: Fitch Ratings
In its latest Global Economic Outlook (GEO), Fitch said Indian GDP growth slowed significantly to 6.1 percent in first quarter of 2017 from 7 percent in October-December. Stating that the lagged effect of demonetisation on the economy is quite puzzling, Fitch said this partly reflects the challenges of measuring spending in an economy with a large informal sector. Fitch expected that the goods and services tax (GST), which is to kick in from July, will facilitate trade within India and reduce transaction costs.
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