India's 02 GDP growth to decline to 6.5%: IBRA

Unsoasonal rains and weak corporate earnings oited as reasons for fall; rating agency keeps ms projection at 'l%

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Domestic rating agency Icra on Wednesday said India's real GDP growth for the September quarter is likely to decline to 6.5% due to heavy rains and weaker corporate performance.

The agency, however, maintained its FYZS growth estimate at 7% on expectations of a pick up in economic activity in the second half of the fiscal.