The Indian economy is recovering at a “weaker than expected” pace despite growing at 6.3% in the second quarter, Fitch Ratings says. Hence, it has trimmed the country’s GDP growth forecast for FY18 to 6.7% from 6.9%. Fitch said the economy has “repeatedly disappointed” largely due to one-off events such as demonetisation and GST implementation. Rating agencies seem to be divided on India’s FY18 prospects — both the World Bank and the Asian Development Bank expect a 7% growth but the IMF forecasts 6.7%.
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