71718
India Growth Lowered
India Growth Lowered

India Growth Lowered

India Growth Lowered

Global brokerage firm UBS has lowered India’s GDP growth forecast to 6.6% for this fiscal from 7.2% earlier, Moneycontrol reported. The brokerage said that the growth is expected to pick up in coming quarters as the economy normalizes post implementation of the Goods and Services Tax. Notwithstanding the downward revision in growth forecast, the global financial services major said the structural growth story of the country remains intact thanks to the ongoing reform push by policymakers and consumption demand. “We are revising down our forecasts for India’s GDP growth to 6.6% year-on-year and 7.4% year-on- year in 2017-18 and 2018-19, respectively (as against our earlier estimates of 7.2% and 7.7%),” said the report authored by Tanvee Gupta Jain, an economist with UBS. According to official data, India’s economic growth slipped to a three-year low of 5.7% in April-June quarter as disruptions caused by demonetization spilled over to the third straight quarter amid a slowdown in manufacturing activities.

 

Short URL : https://goo.gl/f3Fiex
  1. https://goo.gl/Y9wSjB
  • https://goo.gl/LC7SmM
  • https://goo.gl/AuCQJB
  • https://goo.gl/6t8oyB
  • https://goo.gl/2g2DHy

You can also read ...

Close to 40% of digital transformation initiatives will be supported by AI capabilities.
The digital economy in Asia-Pacific, or APAC, is expected to...
An electronic stock indicator of a securities firm in Tokyo.
As investors come to terms with the impending end of easy...
Most economists would agree that Italy needs faster economic growth if it is to resolve its public debt  and banking-sector problems in an orderly manner.
Italy’s economy is growing again, but it’s still the worst...
Maersk is expanding its competitive universe to include different types of companies.
The world’s largest container company will start looking for...
Lloyds Profits Miss Forecasts
Lloyds Banking Group PLC raised its 2017 dividend by 20% and...
CBs May Top Inflation Targets
Not only will central banks meet their inflation targets, they...
NZ Says Pacific Trade Deal Will Boost GDP
New Zealand estimates a Pacific trade deal would boost its...
Pak Current Account Gap Widens
Pakistan’s current account deficit widened 28.74% on a month-...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus