Industry keeps overall GDP growth weak at 5.3%: CRISIL Research
This is the lowest industry growth in Q2 since 2004.
Services, the best performing among the three sectors, grew only at 7.2 per cent in Q2FY13, much lower than Q2FY12. Private consumption growth remained muted at 3.7 per cent due to depressed consumer sentiment and high interest rates. Exports witnessed a sharp slowdown reflecting weak global demand.
Given the global economic environment and the domestic policy hurdles, GDP growth is expected to remain subdued over the remaining quarters of this fiscal as well. We, therefore, expect GDP to grow at 5.5 per cent during FY13. Although government has announced some reforms and policy measures recently to revive growth, they will take a while to play out.
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India Infoline Research Team / 10:47, Aug 24, 2015
In spite of massive improvement in CV demand, standalone revenues for Banco Products Ltd registered muted performance with sales at Rs. 113cr in Q1 FY16.