India Ratings cuts GDP growth forecast to 6.7% for FY 20, listen to economic expert

28 Aug 2019 05:15 PM

India Ratings cuts GDP growth forecast to 6.7% for FY 20, listen to economic expert

Updated 28 Aug 2019 05:15 PM

India Ratings on Wednesday lowered the country's growth forecast to six-year low of 6.7 per cent for the current fiscal from an earlier estimate of 7.3 per cent on account of slowdown in consumption and moderation in industrial growth among other factors.
This would be the third consecutive year of subdued growth, India Ratings principal economist Sunil Kumar Sinha said here.
Even on quarterly basis, he said, April-June is expected to be the fifth consecutive quarter of declining GDP growth at 5.7 per cent.

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