The Japanese brokerage company Nomurahas projected a downward revision by 1% for Indian economy in the April-June quarter and by 0.5% for the September quarter. It is likely to expand only in the December quarter of 2020 by 1.4%. The economy will grow at 3.2% in the January-March period. Nomura is also expecting another 0.75% rate cuts by RBI to push growth in 2020. The major factor behind all these trims is the COVID-19 crisis.
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