The government will be releasing the first-quarter GDP data at 05:30pm today and economists expect another set of lacklustre numbers.
According to a CNBC-TV18 poll, the GDP is likely to ease to 5.7 percent. In the last quarter, economic growth was at a five-year low of 5.8 percent.
The GVA growth as per the poll is seen at 5.62 percent compared to a 7.7 percent year-on-year (YoY) and 5.7 percent on a quarterly basis.
The Reserve Bank of India (RBI’s) Monetary Policy Committee (MPC) also lowered the growth expectations for FY20 to 6.9 percent. In the first half, they see the GDP expanding by 5.8 percent to 6.6 percent. The high-frequency indicators have been indicating weakness.
With the auto sales slowdown and the NBFC lending credit crunch, core sector growth stood at 0.2 percent in June, the lowest level since December 2015 while IIP was at a 4-month low in June.