Economy

Crisil cuts FY20 growth forecast to 5.1%

PTI Mumbai | Updated on December 02, 2019 Published on December 02, 2019

The slowdown is deeper than anticipated and will be prolonged, ratings agency Crisil warned on Monday slashing its growth estimate sharply to a low 5.1 per cent from 6.3 per cent earlier.

The agency attributed the sharp revision to various high-frequency indicators showing a softness and partly blamed the same to the reforms like GST, real estate regulation, and the bankruptcy code which are still a “drag” on the economy which is yet to adjust to the changes unveiled years before. The Crisil’s estimate is among the lowest, but still above Japanese brokerage Nomura’s 4.7 per cent forecast.

Published on December 02, 2019
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