India's economic growth rate is expected to fall to five percent in the current fiscal year

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New delhi date. November 13, Wednesday

The recessionary cloud that surrounds the Indian economy is likely to grow even darker. According to the analysts at CLSA, the current fiscal year's economic growth rate in India can be as low as five percent and there is a risk of decline.

As a result of the liquidity crisis created by the crisis arising out of non-banking finance companies (NBFCs), India is currently witnessing a significant decline in credit, which has also affected deposit-taking companies.

India's economic growth rate is at a historic low and consumption is also under pressure. The reduction in corporate tax by the Modi government is welcome but it will take some time to succeed, said an economist at CLSA.

The country's recent economic figures have been very weak. The Industrial Production Index (GDP) declined by 8.2% in September, the weakest performance in eight years.

Global money markets are seeing slowing growth in India, which is a problem for India. While the entire banking system is avoiding risk-taking, it takes a long time to come out of the recession and change people's mindset.


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