Home / Knowledge / News / Textiles / Crisil foresees 7.5% GDP growth for India in fiscal 2018-19
Crisil foresees 7.5% GDP growth for India in fiscal 2018-19
09
Mar '18
India’s gross domestic product (GDP) growth is seen rising to 7.5 per cent in the next fiscal from the likely 6.5 per cent this fiscal, due to domestic consumption, policy push and synchronised global growth, according to credit rating agency Crisil. The projected GDP growth for fiscal 2018-19 is, however, still below the 13-year average, it added.

Noting the last two years to be sub-par years, interjected by demonetisation and roll out of the goods and services tax (GST), Crisil said the key drivers of the upturn in the next fiscal are largely domestic and policy-driven, though a synchronous upturn in global growth will provide some tailwind, according to a report in an Indian business daily.

The agency identified four thrust vectors— resolution of stressed assets in banking, rural rejuvenation, relentless implementation of reforms and rising global growth —that will critically determine the extent of pick-up and its sustainability.

The asset quality issues in public sector banks have reached such gargantuan proportions — with gross non-performing assets (GNPAs) touching 10.5 per cent — that no sustainable economic recovery is feasible without, at least, beginning of a resolution process, it noted.

Fresh slippages will moderate and NPAs will likely peak at 11 per cent by March 2019. Continued government support though capital infusion, including growth capital, will be critical for the lending cycle to start, Crisil observed.

The agency cautioned that an unintended consequence of resolution will be a possible slowdown or deferment in private sector capital expenditure. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Top 15 US fashion brands are collectively worth $70 bn

Fashion | On 22nd Jul 2018

Top 15 US fashion brands are collectively worth $70 bn

The top 15 American fashion brands are collectively worth close to...

Courtesy: Covestro

Textiles | On 22nd Jul 2018

Covestro's new products for waterproof textile coating

Covestro, which is among the largest polymer companies, has unveiled...

Evogene, IMAmt to work together in insect resistance

Textiles | On 22nd Jul 2018

Evogene, IMAmt to work together in insect resistance

Evogene, a leading biotechnology company developing novel products...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search