Ind – Ra lowers India’s GDP growth forecast

India ratings (Ind- Ra) has revised its forecast of GDP growth for Financial Year 2019 for the 3rd time and has downgraded it to 6.1% from its previous forecast of 6.7%. This revision has been done in the wake of unsatisfactory performance of Indian economy for the first quarter of FY 2091-20 with GDP growth of only 5%, as reported by Central Stastical Organisation (CSO).  The rating agency predicts the growth rate of GDP to be 5.2% for the first half of FY 2019-20 and estimates it to get better during the other half with a forecast of 6.9%. According to the rating agency fall in demand is the retarding force acting behind the downfall of economy