Crisil cuts FY20 GDP growth forecast to 6.9%

Why is it in the news ?
  • Rating agency Crisil Ltd has cut down India’s growth estimate for 2019-20 by 20 basis points to 6.9%, even lower than the IMF estimate of 7%.
Key features of the Bill
    • Crisil expects corporate sector growth to slow to 8% in 2019-20, lower than the double-digit growth trend of the last two financial years.
    • Causes behind lowering the growth rate:
      (1) Inadequate monsoon.
      (2) Slowing global growth.
      (3) Sluggish high-frequency data for the first quarter.
      • The slowdown would be pronounced in the first half, while the second half should find support from monetary easing, consumption and statistical low-base effect.
      • About Crisil:
        (1) CRISIL  (Credit Rating Information Services of India Limited) is first credit rating agency set up in India in 1987.
        (2) CRISIL has become a global analytical company that rates companies, researches the markets and provides risk and policy advisory services to its clients.
        (3) CRISIL provides independent opinion and efficient solutions by performing data analysis and research.
        (4) CRISIL works with various governments and policy-makers in India and other developing nations to enhance and improve the infrastructure and meet the demands of the region.
        95) CRISIL is headquartered in Mumbai
      Source
      LiveMint.




      Posted by Jawwad Kazi on 2nd Aug 2019
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