The Indian economy will bounce back next year after declining in the current financial year. Fitch Ratings said on Wednesday that India

New Delhi: The Indian economy will bounce back next year after declining in the current financial year. Fitch Ratings said on Wednesday that India's GDP growth could reach 9.5 per cent in the next financial year.

Fitch Ratings said that unless the state of India's financial sector worsens further, growth could accelerate sharply. The economy has already slowed down in the fiscal year 2020-21, which began in April due to the coronavirus epidemic.

PhotoFor this fiscal year, Fitch estimates that economic growth could slow to 5 percent. Fitch Ratings said that if the situation in India's financial sector does not worsen, there could be a significant increase in growth.

The epidemic has sharply weakened India's growth outlook, Fitch Ratings said in its APAC Comprehensive Credit Summary on Wednesday. With so much debt, there are so many challenges.

PhotoPredicting 9.5 per cent GDP growth for the next financial year, Fitch Ratings said that India's GDP growth could rise above the BBB category after the global crisis.