India Ratings & Research Lowers Growth Forecast For 2019-20 To 7.3%

India Ratings & Research (A Fitch Group Company) has lowered the country’s growth forecast for the current fiscal to 7.3%, from the earlier projection of 7.5 %. The agency has listed three key reasons for lowering its projection.

  1. Prediction of lower-than-normal monsoon for 2019 and the continued agrarian distress.
  2. The loss of momentum in the industrial output growth, especially manufacturing and electricity, is likely to hurt growth.
  3. The slow progress in cases referred to the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016, for resolution of the non-performing assets of the banking sector becoming a long-drawn-out process.

Source- The Hindu Business Line

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