Indian economy to grow at 9.5 pct in next fiscal, says Fitch Ratings

After a contraction in the current financial year, India's economy is forecast to bounce back with a sharp growth rate of 9.5 percent next fiscal, Fitch Ratings has said. It has forecast a 5 percent contraction in the GDP in the ongoing financial year. Fitch Ratings said after the global crisis, India's GDP growth is likely to return to higher levels than 'BBB' category peers. To support the economy, the Reserve Bank of India has eased monetary policy by cutti...