India's economic growth is expected to accelerate to 6.7 percent in 2013-14 from the projected rate of 5.5 percent in the current financial year on a revival in consumption, CRISIL said in a report Wednesday.
For SMEs, a rating by a reputed credit rating agency is an excellent step towards gaining credibility. It can assist them in getting funds from banks and also reduces their interest rates. Many Indian banks provide interest rate concessions starting from 0.25- 1.25 percent for rated SMEs.
Research and ratings agency Crisil has cut India's economic growth forecast to 5.5 percent for the 2012-13 financial year from its earlier estimate of 6.5 percent, citing deficient monsoon and worsening Eurozone crisis. It also raised India's core inflation forecast to eight percent for this fiscal from the seven percent announced earlier.
Ratings agency CRISIL cut its India's economic growth forecast for the current financial year to 6.5 percent from its previous 7 percent. This is due to uncertainty in the eurozone, muted domestic investment demand, a domestic policy logjam, and limited fiscal and monetary space to stimulate the economy, CRISIL said in a report.