on Monday that the GDP rate will likely be in the range of 6.7 per cent and 6.9 per cent.
Only Ernst and Young India has predicted a high growth rate between 7.3-7.4 per cent. Data for FY19 growth rate, along with second advance estimates, is set to be released by Central Statistics Office on Thursday. The government had earlier revised the GDP growth rate from 6.7 per cent to 7.2 per cent
Gross value added growth (GVA) is expected to be 6.7 per cent in the Q3 quarter, marginally down from 6.9 per cent in the previous three months, according to Reuters.
Why do economists forecast lower growth?
Farm distress coupled with weak rural incomes and low urban demand are the main drivers of a lower growth forecast, that too in an election year. The Reserve Bank of India's rate cut earlier this month and its sudden 'dovish' turn also attributed to the lower projection.
Besides global uncertainty over trade conflicts, Brexit and oil prices could also weigh on India's growth trajectory.