INSUBCONTINENT EXCLUSIVE:
The second quarter GDP growth came in at over 6-year low and sparked a political war of words
has not issued a statement on the growth figures
When TheIndianSubcontinent reached out to CII and asked, they said there perhaps won't be a statement on GDP even later as well.Remember
when the government announced corporate tax cuts, corporate India cheered the move and said this would spur growth
However a team of economic panelists told TheIndianSubcontinent that the focus must shift to demand creation now.Contraction in
manufacturing for the first time since June 2017 and the significant decline in agriculture and rural demand remain key areas of
concern.Sunil Sinha, principal economist, India Ratings and Research said, "The Q2 FY20 GDP growth at 4.5 per cent is in line with India
Ratings' projection of 4.7 per cent
As expected the slowdown in GDP growth is largely on account of the slump in consumption expenditure and de-growth in exports
Given the current growth-inflation dynamics India Ratings believes RBI will go for another 25 basis point rate cut in the forthcoming
monetary policy review in December 2019" .
