January 7, 2020 / 12:07 PM / in 2 months

India forecasts 2019/20 GDP growth rate at 5% y/y - govt

NEW DELHI, Jan 7 (Reuters) - The Indian government said on Tuesday it expects the economy to grow at 5.0% in the fiscal year ending in March, lower than 6.8 % recorded a year earlier.

Most private economists have lowered India’s growth forecast to around 5% for the 2019/20 fiscal year, after the central bank cut its growth estimate to 5.0% last month, citing weakening demand and a slowdown in global economic activity.

Reporting by Manoj Kumar; Editing by Sanjeev Miglani

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