Despite several ups and downs, spike in oil prices and global trade war like situation in 2018, India has retained the the tag world’s fastest growing large economy.
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India remained ahead of China during 2018 and in the first quarter of 2018-19 ending June 30, had a GDP of 8.2 per cent.
Then it slipped to 7.1 per cent in the next quarter ending September 30. Fitch Ratings slashed India’s GDP growth forecast to 7.2 per cent for the current fiscal, from 7.8 per cent projected in September, citing higher financing cost and reduced credit availability.