According to NCAER, while inflation has weakened significantly and sentiments have improved, the fundamentals of the Indian economy continue to be weak
National Council of Applied Economic Research (NCAER) has lowered India's GDP growth forecast to 5% for FY2015 on weak economic fundamentals and uncertainties in growth prospects.
According to NCAER, the only redeeming feature in the Indian economy is the weakening of inflation and foreign direct investment (FDI) inflows. Further, NCAER feels that growth prospects will depend on a number of factors including revival of the external economy and the extent of damage on agriculture due to deficit rainfall.
NCAER adds that the business confidence index is showing rise in sentiments on the back of a stable political regime with the new government.
While inflation has weakened significantly and sentiments have improved, the fundamentals of the economy continue to be weak, NCAER added.
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