Crisil slashes India's FY20 growth to 5.1% over slump across sectors

Growth in the second half of 2019-20 will go up to 5.5 per cent, up from the 4.75 per cent in the first half, the agency said

Rating agency Crisil on Monday sharply cut its growth forecast for the current financial year to 5.1 per cent from an earlier estimate of 6.3 per cent.

The move comes ahead of the RBI's announcement on lending rates on December 5. The RBI's monetary policy committee (MPC) will meet between December 3-5 to review the interest rates. Crisil's revision, which is among the lowest after Japanese brokerage Nomura's 4.7 per cent forecast, comes within days of the official data showing a further slip in the second quarter growth to 4.5 per cent. This leaves the first half (April-September) growth at