INSUBCONTINENT EXCLUSIVE:
Reserve Bank of India has forecast an economic growth of 7.4% for the financial year ending in March.India's economy slowed to 7.1 per cent
agriculture and mining activities, government data showed on Friday
GDP or gross domestic product has shown the lowest growth in three years but India still remains the world's fastest-growing major
economy."This quarter also faced the challenge of higher oil prices resulting in much higher import bill and the weakening of the rupee
The economy is on track to maintain a high growth rate in the current global environment," the finance ministry said in a statement
Growth has shown a rise over the past year; the economy had grown 6.3 per cent in the corresponding quarter last year.The GDP numbers were
below a median estimate in a poll by news agency Reuters which had pegged the annual growth of Asia's third largest economy at 7.4 per cent
in the second quarter."The growth in this quarter seems disappointing," Economic Affairs Secretary Subhash Chandra Garg tweeted.GDP at
31.72 lakh crore in the corresponding quarter last year, according to the official statement.(: Economic Growth In Second Quarter May Slow
To 7.5-7.6%: SBI Report)Mining and quarrying output has declined by 2.4 per cent in the quarter from 6.9 per cent a year ago.The Reserve
Bank of India (RBI) has forecast an economic growth of 7.4 per cent for the financial year ending in March, a recovery from 6.7 per cent in
the previous year, which was the slowest in four years.Experts were surprised at the slide in GDP numbers
"Second-quarter growth data has surprised us on the downside and pose downward risk to overall 7 percent+ GVA growth in FY19
The second half of FY19 will likely see further slower growth on the back of unfavourable base effect and slower non-banking credit offtake
and tighter financial conditions amid NBFC (non-banking financial company) stress," Madhavi Arora, Economist, Edelweiss Securities, was
Government expenditure has grown at a lower rate than what we had anticipated, the public administration and defence services part
Growth in the next two quarters could be slightly lower than this because you have an adverse base kicking in and then the NBFC (non-banking
financial company) crisis
Credit growth has been slow and passenger vehicle growth slipping
Most of these indicate that growth could even be slower in the second half of FY19," Teresa John, Economist, Nirmal Bang Institutional