International rating agencies, brokerages, and economists have slashed their projections on India’s economic growth. The RBI said the duration of the second wave is the biggest risk to the outlook.
While the rating agency downgraded India’s sovereign rating, BofA Securities’ economists see the present downturn as cyclical rather than structural; say fiscal stimulus is critical for recovery.
Headwinds in the Indian auto market and continuing weakness at its British subsidiary’s global business made this a disappointing quarter for the company.
