FM Nirmala Sitharaman holds press conference on state of the economy. S&P says it could downgrade rating if economy doesn't recover.
Press Friends: Union Finance Minister Nirmala Sitharaman, Chief Economic Adviser K V Subramanian and other top officials of the Finance Ministry addressed a press conference today. They spoke on various issues, including pre-budgetary consultations, GST hikes, the IBC, and the state of the economy. Highlights can be read here.
A Tale of Two Forecasts: S&P Global Ratings has forecasted India's GDP to grow at 5.1% for FY20 and has said that it would downgrade its rating if the economy doesn't recover. S&P however said the country’s long-term economic performance remained intact. BS
Bloomberg Economics has forecast that the Indian economy will see an upturn - but in FY2021. As per its forecast, GDP growth could rise from a possible 5.7% in FY20 to 7.1% in FY21. Business Today
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