News > Fitch slashes FY23 India growth forecast to 8.5% on high energy prices

Fitch slashes FY23 India growth forecast to 8.5% on high energy prices

Rating agency Fitch on Tuesday slashed India's growth forecast for the next fiscal to 8.5 per cent from 10.3 per cent, citing sharply high energy prices on account of the Russia-Ukraine war.

With the Omicron wave subsiding quickly, containment measures have been scaled back, setting the stage for a pick-up in GDP growth momentum in the June quarter this year.