New Delhi, Nov 21 (SocialNews.XYZ) Ratings agency ICRA expects India's growth rate to further slowdown to 4.7 per cent in Q2 FY2020, due to weak industrial output.
Accordingly, the ratings agency expects a further deterioration in the growth rate of India's GDP and the gross value added (GVA) at basic prices in year-on-year terms to 4.7 per cent and 4.5 per cent, respectively, in Q2 FY2020, from 5 per cent and 4.9 per cent, respectively, in Q1 FY2020.
However, sectors such as agriculture and services may be able to "maintain the growth rate recorded in Q1 FY2020".
"With subdued domestic demand, investment activity, and non-oil merchandise exports weighing upon volume expansion, manufacturing growth is expected to decelerate further from the marginal 0.6 per cent in Q1 FY2020," said ICRA's Principal Economist Aditi Nayar.
"To some extent, lower raw material costs would bolster earnings, and may prevent manufacturing GVA from slipping into a YoY contraction in Q2 FY2020."
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz