DBS cuts GDP growth forecast to 5%

DBS Banking group has cut India's GDP growth forecast for this fiscal to 5 per cent from 5.5 per cent earlier and said that it will be a "slow climb to recovery" for the economy.
This slowdown is driven by an interplay of factors. This is part cyclical and part structural, which points to the likelihood of a slow climb to recovery in 2020," DBS in its report titled 'India annual outlook 2020' noted.
DBS Bank is a Singaporean multinational banking and financial services corporation headquartered in Singapore.
Piyush Gupta is the CEO of DBS Bank.