Ind-Ra revises up growth forecast to 7.4% for FY19 on strong agri growth

Agriculture, industry to boost growth

India Ratings and Research (Ind-Ra) has scaled up its projections for economic growth to 7.4 per cent, from the earlier 7.1 per cent, for 2018-19 on expectations of strong agricultural and industrial growth.

This is somewhat different from IHS Markit, a compiler of the purchasing managers’ index, which had recently lowered its FY19 growth projection to 7.3 per cent, from 7.4 per cent earlier, on account of weak demand. 

Earlier, the International Monetary Fund had projected India’s economy to grow at 7.4 per cent in FY19, while the World Bank expects the economy to grow at 7.3 per cent in