The Indian economy is expected to grow at around 5 per cent in the current financial year and the slowdown is likely to continue for some time, according to DBS India.
The country’s economic growth slowed to 5 per cent during the last financial year that ended on March 31, from an average of 8 per cent over the past decade.
“We have lowered the GDP growth projection quite significantly. It is probably going to be between 3.8 and 5 per cent. I think it would be closer to five,” DBS India GM and CEO Sanjiv Bhasin said.
He said it is difficult to predict as to how long the slowdown is going to continue.
The Finance Ministry believes that India’s economic growth would be over 5 per cent.