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India very likely to announce another set of fiscal stimulus measures: Fitch

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NEW DELHI : India is very likely to come out with another round of fiscal stimulus package, worth about 1 per cent of GDP in the coming months, Fitch Ratings said on Monday.Fitch, which last week lowered India's sovereign rating outlook to negative from stable, said it has factored in the outgo for additional fiscal stimulus while deciding on the rating action.Fitch Director Sovereign Ratings Thomas Rookmaaker said COVID-19 is still in India and it is “very likely" that the government will have to spend a bit more on fiscal measures to support the economy.“In our forecast we have factored in a larger stimulus package, not just 1 per cent of GDP of fiscal measures that have been announced so far.

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