India's economic growth rate is expected to be 5.60 per cent in 2019, due to slow consumption demand

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New delhi date. 13 December 2019, Friday

Moody's Investors Service said on Friday that India's economic growth rate for 1 has been revised downward to 8.5 percent. The slowdown in employment growth has impacted consumption. The economic growth rate of the country is estimated at 8 percent and 8 percent, respectively, at 8 and 5 percent. But the rate of growth will be slow.

India's economic growth rate stood at 8.5 percent in the first quarter, but we have reduced the GDP estimate to 5 percent, and we have put it at 8 percent, according to a report by Moody's.

India's economic growth rate has been declining since the mid-9's. In the June quarter, the rate dropped to 5%. In the September quarter, the rate was 8.5 percent.

Consumption demand has dropped significantly. The slow growth in employment has impacted consumption demand, the report said. However, we expect India's economic growth rate to grow at 8 percent and 5 percent, respectively.

The measures taken by the Indian government to reduce corporate taxation, bank recapitalization, support to the auto sector, reduction in repo rates have not yet shown a direct impact on consumption by accelerating consumption growth. Consumer demand is the main factor driving the economy, the report also noted. Despite the decline in the repo rate by the Reserve Bank, it has not been attractive due to the financial crisis. Following the IL&FS chapter, there has been widespread financial crisis in the NBFC sector in the country.

Sales of commercial vehicles declined by 5 percent in the six months ended September 1. The decline in vehicle sales did not affect the appearance of the loans, as the absence of new vehicles did not face competition.


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