Current context: Fitch group firm India Ratings and Research lowered India’s GDP growth forecast for current fiscal for the fourth time.
a. 4.7%
b. 6.1%
c. 5.6%
d. 4.5%
- Ind-Ra has revised its GDP growth forecast for FY20 to 5.6 %.
- It has also forecasted that the Indian economy may have slowed for the sixth consecutive quarter in July-September to 4.7%.
- The 4.7% projection for the 2nd quarter would mark 6 consecutive quarters of slowing growth which is a first since 2012.
- Ind-Ra projected that the Current Account Deficit would decline to 1.8% of GDP in FY20.
- The crunch was started with the non-banking finance institutions and spreading to the automobile sector, home sales, heavy Industries etc.
- Despite of recent fiscal stimulus like reduction in corporate rates, bank recapitalization, support for the auto sector etc. no improvement is registered.
- The agency had revised its FY20 GDP growth forecast to 6.1% a month ago.
Question:
Q.1 Fitch group firm India Ratings and Research have recently lowered India’s GDP growth forecast for FY20 to ______?a. 4.7%
b. 6.1%
c. 5.6%
d. 4.5%
