Crisil Lowers India's GDP Forecast By 100 bps: Reports

Ratings firm Crisil has said that it has lowered the country's GDP growth forecast by 100 basis points to 6.9 per cent from 7.9 per cent earlier for the current fiscal.

Subscribe to GoodReturns

Ratings firm Crisil has said that it has lowered the country's GDP growth forecast by 100 basis points to 6.9 per cent from 7.9 per cent earlier for the current fiscal.

Crisil Lowers India's GDP Forecast By 100 bps: Reports
At the same time, the agency said it expects the consumer price index (CPI)-based inflation to print lower at 4.7 per cent as compared to its earlier estimate of 5 per cent.

Commenting on the issue, a Crisil Official told the media, "Assuming that it will take at least a couple of months for the situation to normalise, we have sliced 100 basis points off this fiscal's GDP growth to 6.9 per cent from 7.9 per cent estimated earlier. The jolt to demand will also pull inflation down."

"We believe the cash crunch will impact private consumption demand (55 per cent of GDP) directly, and cull GDP growth in the third and fourth quarters of the current fiscal," he added.

Read more about: gdp
Story first published: Friday, December 2, 2016, 12:50 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?