India's GDP growth rate has been forecast by Fitch, a renowned credit rating agency. According to Fitch, the Indian economy is expected to expand at 12.8% in fiscal year 2021-22, which is faster than the previous estimate of 11%, despite the negative impact of the second wave of the pandemic. The key factors driving India's GDP growth as per Fitch's latest forecast are:

• Strong fiscal and monetary policy support.
• Recovery in consumer demand as economic activities gradually pick up pace.
• Increase in vaccination coverage boosting consumer and business confidence.
• Improved liquidity position for SMEs and banks, supporting credit growth.
• Favorable base effects and low-interest rates.

These positive developments are likely to support India's strong economic revival and GDP growth in the coming months, despite the ongoing challenges posed by the pandemic.