BENGALURU: India's economy likely grew at its slowest pace in over a yr in the October-December quarter as weaker rural earning and softer city call for weighed on consumption, a Reuters poll showed.
The median forecast from greater than 55 economists polled on February 19-25 used to be for enlargement of 6.nine consistent with cent, when put next with 7.1 consistent with cent in July-September.
"Consumption drivers should remain modest as tight liquidity persisted through most of the quarter and farm distress restrained rural consumption," said Charu Chanana, emerging Asia economist at Continuum Economics.
Forecasts for the GDP quantity, due for liberate on February 28 at 5:30 pm, ranged between 6.3 consistent with cent and 7.nine consistent with cent, and instructed a significant drop from a greater than two-year top of 8.2 consistent with cent in April-June 2018.
The latest poll used to be carried out amid political uncertainty ahead of a general election due by means of May and a weakening international economy.
A slowdown in enlargement momentum supported the Reserve Bank of India's unexpected dovish flip in early February when it lower rates and altered its policy stance to "neutral" to boost expansion after a pointy fall in inflation.
However, international uncertainty over industry conflicts, Brexit and oil costs could add to enlargement headwinds in India, the RBI's Monetary Policy Committee 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," said Shashank Mendiratta, economist at IBM.
A slowing economy generally is a worry for Prime Minister Narendra Modi's executive, which desires to boost lending and lift enlargement ahead of the election.
In its final price range for this term, the government offered several tax cuts to make stronger spending and enlargement in a bid to entice middle-class voters.
"I think their stance from here would be to show that they have pulled out all the stops and that they've got a few more rabbits to pull out of the hat if they were to win the election," said Vishnu Varathan, head of economics and strategy for Asia at Mizuho Bank.
Gross worth added enlargement (GVA), the government's most popular measure, is anticipated to be 6.7 p.c in the October-December quarter, marginally down from 6.nine p.c in the previous three months.
The median forecast from greater than 55 economists polled on February 19-25 used to be for enlargement of 6.nine consistent with cent, when put next with 7.1 consistent with cent in July-September.
"Consumption drivers should remain modest as tight liquidity persisted through most of the quarter and farm distress restrained rural consumption," said Charu Chanana, emerging Asia economist at Continuum Economics.
Forecasts for the GDP quantity, due for liberate on February 28 at 5:30 pm, ranged between 6.3 consistent with cent and 7.nine consistent with cent, and instructed a significant drop from a greater than two-year top of 8.2 consistent with cent in April-June 2018.
The latest poll used to be carried out amid political uncertainty ahead of a general election due by means of May and a weakening international economy.
A slowdown in enlargement momentum supported the Reserve Bank of India's unexpected dovish flip in early February when it lower rates and altered its policy stance to "neutral" to boost expansion after a pointy fall in inflation.
However, international uncertainty over industry conflicts, Brexit and oil costs could add to enlargement headwinds in India, the RBI's Monetary Policy Committee 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," said Shashank Mendiratta, economist at IBM.
A slowing economy generally is a worry for Prime Minister Narendra Modi's executive, which desires to boost lending and lift enlargement ahead of the election.
In its final price range for this term, the government offered several tax cuts to make stronger spending and enlargement in a bid to entice middle-class voters.
"I think their stance from here would be to show that they have pulled out all the stops and that they've got a few more rabbits to pull out of the hat if they were to win the election," said Vishnu Varathan, head of economics and strategy for Asia at Mizuho Bank.
Gross worth added enlargement (GVA), the government's most popular measure, is anticipated to be 6.7 p.c in the October-December quarter, marginally down from 6.nine p.c in the previous three months.
GDP growth likely slowed in October-December quarter: Poll
![GDP growth likely slowed in October-December quarter: Poll]()
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February 26, 2019
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