Ind-Ra lowers GDP estimate to 6.9 pc for FY19

New Delhi: India Ratings and Research (Ind-Ra) said on Monday that it expects India’s GDP growth rate during 2018-19 to be 6.9 pc as against the advance estimate of 7 pc. It said the fourth quarter (January to March) GDP growth to decelerate to 6.3 pc from 6.6 pc in the third quarter (October to December 2018). “There will be another fourth-quarter GDP slowdown starting from the fourth quarter of 2017-18. Clearly, FY19 will be the second consecutive year of an economic slowdown in India,” said Ind-Ra. Arresting the slowdown and reviving the economy will be a challenge for the new government, it said.