 "India Ratings cuts growth forecast for FY 2019-20 to 6-year low at 6.7%")
Counting dwindling consumption expenditure as one of the factors affecting the Indian economy, India Ratings on Wednesday said the new government, despite its thumping majority in the Lok Sabha, could not instill confidence in people that their income would grow in the coming years. "The Budget (for 2019-20) also could not do so," said Sunil Kumar Sinha, principal economist at India Ratings.
The measures announced by Finance Minister Nirmala Sitharaman last week are likely to support economic growth in the medium term, India Ratings said. Sinha also did not agree with those who called the economic slowdown as cyclical. He
