Fitch cuts India's GDP growth rate to 1.8%

Fitch Solutions on Monday cut India's FY21 GDP growth to 1.8% for FY21, citing the worsening domestic situation of the COVID-19 outbreak. These estimates comes as research from domestic and international institutions such as the State Bank of India, IMF, Standard and Poors and the Economist cuts India's growth to these levels. However, India is still expected to outperform other regions in the world, expected to witness economic contraction.