Indian Economy (GDP) Likely Grew At 4.7% In Q3: Poll

The Indian economy growth likely picked up in the third quarter (Q3) of the financial year 2019-20, according to a Reuters poll, with the revival in rural demand and private consumption.

Its February poll has estimated the country's GDP (gross domestic product) to have grown at 4.7 percent in the December-ended quarter when compared to 4.5 percent in the previous quarter.

The official data on GDP for the October-December period is scheduled to be released on 28 February.

Around 90 percent of the economists expect the growth for the said quarter at 5 percent or less.

Last month, releasing its first early estimates of growth, the National Statistics Office had cut its growth projection for the fiscal year 2019-20 to 5.0 percent from 6.1 percent.

While growth is estimated to pick up, the momentum is expected to be hurt by high inflation in the current quarter.

In January, retail inflation rose to 7.59 percent which could constrain consumption and demand. Retail inflation levels are also taken in to account in RBI's monetary policy decisions.

The minutes of the Reserve Bank of India's (RBI) recent monetary policy meet showed that the policymakers are considering more interest rate cuts to push economic growth as soon as inflation moderates to the central bank's mandated medium-term target of 4 percent.