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Indian economy to start recovering from late FY20: D&B

Oct '19
Pic: Shutterstock
Pic: Shutterstock
The Indian economy is expected to start its recovery from the later part of this fiscal owing to the steps taken by the Reserve Bank of India (RBI) for policy rate transmission and government initiatives to boost growth, according to the Dun & Bradstreet (D&B) Economy Observer report, which said industrial production will gradually pick up.

An uptick is expected to be visible during the festive months of September and October, it said.

"The slowdown is real and there is ‘need' to be cautious, but it is ‘too early' to press the panic button," Arun Singh, chief economist, D&B India told a news agency.

The magnitude of slowdown is not as deep as was witnessed during the global financial crisis in 2009 and the debt crisis in 2012, he said.

He further noted that the loss of momentum in investment demand is ‘worrying’. Besides, low business optimism, low returns on investment by the corporate and increase in inefficiency in capital employed, also raises concerns over the pace of revival in investment.

The spate of measures taken by the government including reducing the corporate tax rates is expected to revive the corporate sentiment and provide an impetus to the corporate to kick-start their capex plans. However, amid various emerging challenges both globally and domestically, "it is highly likely that the slowdown that will last longer than expected earlier", he added.

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