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India Ratings and Research (Ind-Ra) Growth Forecast

Published on November 27, 2019
Current context: Fitch group firm India Ratings and Research lowered India’s GDP growth forecast for current fiscal for the fourth time.
India Ratings and Research (Ind-Ra) Growth Forecast  
  • 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%
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