Fitch lowered India's GDP estimates by two percent: a 30-year low

New delhi date. 3 April 2020, Friday

The Fitch rating agency has lowered India's GDP estimates to two percent. Which is the lowest level of 5 years. Prior to the Corona epidemic, the Fitch Ratings Agency had estimated that India's GDP would be 8.5%.

Fitch rating agencies have reduced India's GDP by two percent due to the lockdown implemented due to the Corona virus epidemic. If India's GDP is two percent, it will be the lowest level in the last 3 years.

It is worth mentioning that on March 7, Fitch estimated that India's GDP will be 8.5 percent in FY 6-8. In December 1, Fitch estimated that India's GDP would be 8.5 percent in FY 6-8.

Fitch also said that the Corona lockdown would affect micro, small and medium sized business units the most. These units will have trouble repaying loans from NBFCs.

The challenges of non-banking finance companies in India will be more difficult. Last week, Moody's also reduced India's GDP estimate from 8.5 percent to 8.5 percent last week.