your password has been reset successfully, Please login again.

Growth Of India Slowed Down In Q3 FY-18, Apprises Reuters Poll

In Reuters’ poll, 55 economists interviewed for growth 6.9 per cent, besides earlier 7.1 per cent in July-September.
BY BEx Bureau
Feb 26, 2019

The Indian economy slowed down its pace in Quarter 3 of Financial Year 2018. Staggering rural incomes and declining urban demands are considered the reasons for weighing down, according to the international news organization, Thomas Reuterss poll.

In the poll carried out by Reuters, over 55 economists polled and estimated the growth for 6.9 per cent, against the earlier 7.1 per cent in Quarter 3.

Charu Chanana, an Asian economist at Continuum Economics, said, Consumption drivers should remain modest as tight liquidity persisted through most of the quarter and farm distress restrained rural consumption. as reported by the Indian daily newspaper, The Economic Times.

GDP forecasts have been scheduled for February 28, 2019, at 12:00 GMT and may fall between 6.3 per cent and 7.9 per cent. Further, a dip in GDP is inferred which would be two times more than 8.2 per cent in quarter 1, 2018.

The move taken by RBI of changing its stance to neutral and slash rates is a considerably vital factor in slowing down the growth momentum. The central governments decision was taken so as to boost the market following the market inflation.

However, global uncertainty over trade conflicts, Brexit and oil prices could add to growth headwinds in India, said RBI's Monetary Policy Committee in its statements, as per the Indian daily newspaper, The Economic Times.

Shashank Menidratta, an economist at IBM, said, The RBI's commentary on growth and the upcoming GDP data should support the central bank's surprise cut... there should be more dovishness in the next meeting, because of the ongoing slowdown. as reported by the Indian daily newspaper, The Economic Times.

The decelerating economy can be growing concern for the government as it plans to enhance lending and elevate growth prior to the election.

Please add your Comment
April 22, 2020
In unfavourable conditions, Indian companies are taking panicked decisions and opting for bridge rou ...More
By Jaspreet Kaur
April 04, 2020
Aavishkaar has wholly exited from Sara Plast, which is a portable sanitation services company ...More
By Jaspreet Kaur
March 10, 2020
The startup essentially concentrates on hosting online events; its funding round was led by Accel In ...More
By Jaspreet Kaur
March 07, 2020
Singularity Automation is concentrated on firms working in the shared accommodation industry to hand ...More
By Jaspreet Kaur
February 28, 2020
MinionLabs essentially gives real-time understanding of energy consumption in electric appliances ...More
By Jaspreet Kaur
February 18, 2020
JSW Energy has got into a share procurement concord with GMR Energy Ltd to buy 100 per cent share in ...More
By Jaspreet Kaur
February 17, 2020
The Bengaluru-based company, NestAway Technologies Pvt. Ltd has bought apartment management and sec ...More
By Jaspreet Kaur
February 01, 2020
As per the agreement, Indiabulls will offer its share to t Embassy's stakeholders considering a swap ...More
By Jaspreet Kaur
January 27, 2020
As per the concord, the Germany-based company will buy nearly 99 per cent of the equity share capita ...More
By Jaspreet Kaur
January 25, 2020
The Noida-based payment solutions firm, Pine Labs Pvt. Ltd has secured undisclosed funding from the ...More
By Jaspreet Kaur
January 24, 2020
Jaipuria Group-backed PepsiCo bottler has lately invested INR 10 crore in pre-Series A funding round ...More
By Jaspreet Kaur
January 23, 2020
It is the second transaction between Subash Chandra-led Essel Group and Adani Group; The deal happen ...More
By Jaspreet Kaur