India's growth will accelerate to 7.3 pct: Fitch

Credit rating agency Fitch said that India's economic growth will accelerate to 7.3 percent in the current financial year and 7.5 percent in the next fiscal year.

In its second-quarter Sovereign Credit Overview for Asia Pacific region, Fitch said the growth rate will accelerate as money supply has recovered to its pre-demonetisationlevel and disruptions related to the rollout of the Goods and Services Tax (GST) have diminished.

The agency said that India's ratings balance a strong medium-term growth outlook and favourable external balances against a weak fiscal position and difficult business environment.

But the country's business environment is likely to improve gradually with the implementation and continued broadening of the government's structural-reform agenda, Fitch said.

ANI