Indian economy faces a blow under PM Modi government
*BENGALURU: **Indian economy faces a blow under PM Narendra Modi government.*
*The Indian economy likely expanded at its slowest pace in more than five years in the April-June quarter, driven by weak investment growth and sluggish demand, according to economists polled by Reuters.*
That would reinforce concerns seen in the minutes from the central bank’s August meeting, which showed policymakers were worried about weak growth and indicated further rate cuts in the next few months to boost the slowing economy.
The poll median showed the economy was expected to have grown at a year-on-year pace of 5.7% in the June quarter, a touch slower than 5.8% in the preceding three months. But a large minority – about 40% of nearly 65 economists – expect an expansion of 5.6% or lower.
The GDP data is due to be released at 1200 GMT on Friday.