Mumbai. The brokerage says a drop in consumption, a major challenge affecting the economy, cannot account for the NBFC crisis as it foresees the first lapse by infra lender IL&FS, which slashed growth rates to 6 percent Have given.
Many slowed the decline in consumption due to the NBFC crisis that began in September 2018, when IL&FS took over, which consumes financing – a group of shadow banks, closed with a chill in disbursements by these players. done.
According to Prachi Mishra, chief economist at Wall Street brokerage Goldman Sachs, his analysis suggests that consumption has been falling since January 2018, well ahead of the end of August 2018 by IL&FS that triggered a liquidity crisis by NBFCs.
The decline in consumption accounted for a one-third decline in overall growth, he said, coupled with the global recession leading to a lack of funding. Prachi Mishra said, “There is a slowdown and growth has come down by 2 percent.”
