Moody’s Cuts India’s GDP Growth Forecast To 5.6% For 2019-20

News:Moody’s Investors Service has reduced India’s economic growth forecast to 5.6% for 2019 from 5.8% projected earlier. Facts: The growth forecast has been reduced due to investment-led slowdown that has broadened into consumption,driven by financial stress among rural households and weak job creation. To overcome the growth slowdown,the government has undertaken a number of measures.… Continue reading Moody’s Cuts India’s GDP Growth Forecast To 5.6% For 2019-20

Fitch cuts India’s FY20 GDP growth forecast to 5.5 per cent

News:Fitch Ratings has reduced the growth forecast of India’s gross domestic product(GDP) forecast to 5.5% in 2019-20 from 6.6%. Facts: Fitch has said that the decrease in credit availability due to crisis in non-bank financial companies (NBFC) sector has pushed Indian economic growth to a six year low. It has also said that the slowdown… Continue reading Fitch cuts India’s FY20 GDP growth forecast to 5.5 per cent

World Bank Cuts India’s Growth Forecast To 6%

News:The World Bank has reduced India’s economic growth forecast in its South Asia Economic Focus report. Facts: Key takeaways from the report: The World Bank has projected India’s gross domestic product growth at 6% in the fiscal year 2020 compared with 7.5% forecast in April,2019. However,the bank also expects India’s growth to gradually recover to… Continue reading World Bank Cuts India’s Growth Forecast To 6%

Moody’s cuts India GDP growth forecast to 5.8%

News:International rating agency Moody has announced the lowering of India’s Gross Domestic Products(GDP) growth to 5.8% from 6.2%. Facts: The reasons for lowering the growth rate are (a)investment-led slowdown (b)weak consumption (c)financial stress among rural households and (d)weak job creation. Further, credit crunch among Non-Bank Financial Institutions(NBFIs) who have been major providers of retail loans… Continue reading Moody’s cuts India GDP growth forecast to 5.8%

ADB cuts India’s GDP growth forecast to 6.5% for FY20

News:Asian Development Bank has released an update to its flagship Asian Development Outlook,2019. Facts: Key takeaways from the report: The report has slashed India’s growth forecast for fiscal 2019-20 to 6.5% from 7% projected in July,2019. The growth was lowered due to slowdown in consumption and investment activities that hit manufacturing and service sectors. ADB… Continue reading ADB cuts India’s GDP growth forecast to 6.5% for FY20

India’s GDP to grow at 6% in April-June: FICCI survey

According to FICCI report,India is projected to grow at 6.9% for the year 2019-20. They have also said that the RBI will continue its accommodative stance with a further cut in the repo rate in the remaining part of 2019-20. The report has identified four key areas of improvement that would help create more jobs… Continue reading India’s GDP to grow at 6% in April-June: FICCI survey

Crisil cuts FY20 GDP growth forecast to 6.9% from 7.1%

Credit rating agency Crisil has cut the gross domestic product(GDP) estimate for India to 6.9% from 7.1% in 2019-20. Crisil has said that revision in growth forecast was due to inadequate monsoon,slowing global growth and sluggish high-frequency data for the first quarter. However,the report said that the second half should find support from expected monetary… Continue reading Crisil cuts FY20 GDP growth forecast to 6.9% from 7.1%

IMF cuts India’s growth forecast for 2019-20 to 7%

The International Monetary Fund(IMF) has released the World Economic Outlook report.The report has projected a slower growth rate for India in 2019 and 2020.It has projected that Indian economy will grow at 7.0% in 2019 and 7.2% in 2020. The downward revision of 0.3 percentage point for both years reflects a weaker-than expected outlook for… Continue reading IMF cuts India’s growth forecast for 2019-20 to 7%

UN lowers India’s FY20 GDP growth forecast

United Nations(UN) in its World Economic Situation and Prospects (WESP) report has lowered India’s GDP growth in 2019-20 to 7.1% from its estimate of 7.5%.It was due to overall slowdown in global growth. The report has said that despite the downward revisions, India still remains the fastest growing major economy in the world ahead of… Continue reading UN lowers India’s FY20 GDP growth forecast