NCAER pegs India's FY20 GDP growth at 4.9% as slowing demand weighs

Forecast lowest among recent predictions

The National Council of Applied Economic Research (NCAER) has pegged India’s gross domestic product (GDP) growth for 2019-20 at 4.9 per cent, the lowest among the recent forecasts by rating agencies, multilateral institutions, research firms, and government institutions.

“India is experiencing a decline in growth, which is sharper than the global slowdown. The sharp decline in growth reflects a growth slowdown across virtually all sectors. It is primarily being driven by a simultaneous deceleration of all the drivers of aggregate demand,” the New Delhi-based policy think tank said in its mid-year review released on Saturday.

For the July-September quarter, the report forecasts