S&P version:
Even after the FDI decisions and policy changes Standard and Poor’s (S&P) has lowered the growth forecast for India to 5.5 per cent for this fiscal, from 6.5 per cent projected earlier, citing “volatile” global economic situation. Lack of monsoon is the main reason for for this cut.
“A trifecta featuring a slowdown in China, ongoing troubles in the eurozone, and a weaker recovery in the U.S. leads us to forecast slower economic growth rates for Asia Pacific,” S&P said.
PMEAC version:
Prime Minister’s Economic Advisory Council Chairman C. Rangarajan expects India to grow at a much higher rate of 6.7 per cent which is better than last year. He expects the growth to pick up in the second half and will compensate for the first half which saw a muted growth.
Even after the FDI decisions and policy changes Standard and Poor’s (S&P) has lowered the growth forecast for India to 5.5 per cent for this fiscal, from 6.5 per cent projected earlier, citing “volatile” global economic situation. Lack of monsoon is the main reason for for this cut.
“A trifecta featuring a slowdown in China, ongoing troubles in the eurozone, and a weaker recovery in the U.S. leads us to forecast slower economic growth rates for Asia Pacific,” S&P said.
PMEAC version:
Prime Minister’s Economic Advisory Council Chairman C. Rangarajan expects India to grow at a much higher rate of 6.7 per cent which is better than last year. He expects the growth to pick up in the second half and will compensate for the first half which saw a muted growth.
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