Jeremy Zook, director, Asia Sovereign Ratings, Fitch Ratings, said the government will set a fiscal deficit target of 6% of gross domestic product to remain consistent with the objective of gradual consolidation
Surge in Covid cases postpones but does not derail India’s recovery: Jeremy Zook, Fitch Ratings
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Last Updated: Apr 26, 2021, 04:41 PM IST
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Jeremy Zook, Director, Asia Sovereign Ratings at
How is India positioned versus the rest of the world? What are the parameters that will lead to deterioration in fiscal outlook, if any?
Back in March, we had forecast a 12.8% rebound for India. India was well positioned compared to most other economies in the world for a very robust recovery from the pandemic shock last year. Of course, what we are seeing now is a very worrying public health emergency across India. It is a very rapidly changing situation that we think will add some headwinds to our 12.8% growth forecast. As restrictions are being rolled out across a number of states and virus cases continue to increase, we are keeping quite a close eye on a number of indicators. We are looking at mobility indicators in particular and just the level of restrictio