Govt's pandemic-driven reforms could potentially raise medium term growth, says Fitch

by Nidhi Bhati

For 2020-21, Fitch Ratings has projected a 10.5 per cent contraction in Indian economy. The global rating agency believes that the revival of the central government’s reform agenda in response to the coronavirus pandemic shock has the potential to raise India’s medium-term growth rate. However, it cautioned that implementation risks were significant. According to Fitch, the Covid-19 pandemic will slow medium-term growth, as damaged corporate balance sheets are expected to dampen investment for years.