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Fitch affirms BBB- rating, says Covid surge may delay economic recovery


Fitch affirms BBB- rating, says Covid surge may delay economic recovery
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Fitch affirms BBB- rating, says Covid surge may delay economic recovery
PTI / Updated: Apr 22, 2021, 21:47 IST
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People waiting in line infront of a test centre to get a Covid test done. India has been experiencing an unprecedented surge in Covid-19 cases currently. (Representative image)
NEW DELHI: Fitch Ratings on Thursday said the resurgence of Covid-19 infections may delay India s economic recovery, but won t derail it, as it kept the sovereign rating unchanged at BBB- with a negative outlook.
It projected a 12.8 per cent recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8 per cent in FY23, from an estimated contraction of 7.5 per cent in 2020-21. ....

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