Fitch: Coronavirus pandemic has drastically weakened India’s growth outlook

The coronavirus pandemic has drastically weakened India’s growth outlook and has laid bare challenges caused by high public-debt burden, Fitch Ratings said in its latest report published on Wednesday.

Additional takeaways

“Expect India’s public debt to GDP ratio to rise to 84% of GDP in FY21, up from the previous forecast of 71%.”

“India growth may return to higher levels vs peers post-crisis, if it avoids further financial sector weakening.”

more to come ...