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India: GDP likely grew by 5.0% over 2019 – TD Securities

The TD Securities analysts offer a brief preview of what to expect from India’s GDP growth figures due on the cards later on Friday at 1130 GMT.

Key Quotes:

“INR: GDP likely grew by 5.0% over 2019. A combination of factors including pressure on the shadow banking sector, weak credit supply and demand, weaker external demand, and impact of unseasonable rains on agriculture, likely caused the slowdown.

The good news is that a recovery is likely in the months ahead as reflected in some forward-looking data. However, the government will need to deliver more policy support in the upcoming budget to sustain any recovery.”

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