Contact Your Financial Adviser Money Making MC
03
December 2018
 |
Crisil
(The Total Investment & Insurance Solutions)
Crisil NSE -0.05 % Monday cut India's growth
forecast for current fiscal to 7.4 per cent on the back of weakening global GDP
and trade growth.
India's growth in the July-September quarter
slipped to 7.1 per cent from 8.2 per cent in the April-June quarter.
"For fiscal 2019, we are lowering our
GDP growth forecast by 10 basis points to 7.4 per cent from 7.5 per cent
estimated earlier. Forecasts of lower global trade and GDP growth has created a
downward bias to growth in emerging economies," Crisil said.
India's export, which saw a revival in early
part of 2018, could likely see a slower growth, it projected.
"The forecast has a downward bias given
that global growth prospects are turning weaker than estimated earlier. Also,
if liquidity issues persist in the financial system, demand could get further
dented," Crisil said. Despite the downward revision at 7.4 per cent,
India's growth in fiscal 2019 will be faster than both, the 6.7 per cent seen
in fiscal 2018 and the trend rate of growth, Crisil said. The Total Investment & Insurance
Solutions
It said the long-term average growth rate
seen in the last 13 years, as per the recently released GDP back series data is
6.9 per cent.
"For the rest of this fiscal, growth will
find support from private consumption, driven by continues government spending
on construction activities, benign inflation and revision in government
salaries at the state level," Crisil said.
No comments:
Post a Comment