Fitch raises India's FY19 growth forecast to 7.8% from 7.4%

Global rating agency Fitch revised its forecast for India's economic growth to 7.8% from 7.4% for the current financial year ending in March 2019. India registered a GDP growth of 8.2% in the April-June quarter, the highest in over two years. Fitch, however, flagged higher interest rates, rising oil bill and weak bank balance sheets as hurdles to growth.