Worst may be behind us, signs of turnaround visible in economy: Prem Watsa

Canadian billionaire and chairman of Fairfax India Holdings Prem Watsa has observed that though 2019 was a tough year for the Indian economy, there are indications that the downward trend in some key economic indicators has bottomed out. Owing to this, he expects a gradual consumption-driven recovery.

High reservoir levels and soil moisture levels point to a good rabi harvest that could cool inflation and revive consumer demand. A fall in the consumer price index could enable and encourage the Monetary Policy Committee (MPC) to initiate one more policy rate cut, he said in his 19-page letter to shareholders. “The worst