Everyday some bad news is being heard about the country's economy. On Thursday, Japan's Financial Services Provider Company Nomura lowered India's GDP growth estimate for the December quarter of this year. Now the DBS Banking Group of Singapore has predicted the pace of recovery in the Indian economy to be slow. According to DBS Banking Group, the economic slowdown will continue in the year 2020. Along with this, the banking group has reduced India's economic growth rate i.e. GDP growth from 5.5 percent to five percent in the current financial year.

DBS has said these things in its report 'India Annual Scenario 2020'. The report notes that this year, the Indian economy has been dominated by a sharp decline in economic activity and challenges made in the financial sector. According to the report, "This softening is due to many reasons. This suggests that the pace of improvement may slow even in 2020. "DBS said that India's GDP growth rate could reach 5.8 percent in FY 2020-21.

According to the DBS report, the measures to boost demand can be announced in the General Budget to be presented in February. This can support economic growth in the short term. Apart from this, the production can be helped by the resumption of government expenditure and the increase in reserves. DBS said, "We expect three-tier support through monetary, financial and macro policies."

Let us tel you that recently the Reserve Bank has also reduced the country's economic growth rate from 6.1 percent to 5 percent. In addition, the International Monetary Fund has also lowered the country's GDP growth forecast from 7 to 6.1 percent. At the same time, according to the World Bank, 6 percent GDP growth is estimated. While according to the Asian Development Bank (ADB), GDP growth is expected to be 5.1 percent.