India’s annual average growth of potential Gross Domestic Product (GDP) is expected to be 6.2 per cent during 2019-2027, 0.7 percentage points higher than the 5.7 per cent estimate for 2013-2022, primarily due to improved employment rate and better working-age population forecast, Fitch Ratings said in its latest report. This comes amid a downward revision by Fitch of the medium-term growth potential for 10 emerging economies driven by a cut in China’s growth outlook.
Growth outlook for India
In India’s case, potential growth has increased by 0.7 percentage points to 6.2 per cent given an improvement in the employment rate and a modest increase in the working-age population forecast, the report said, adding that India’s labour productivity forecast is also higher.
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