Tuesday, 14 February 2017

India`s GDP to grow 7.4% yoy in FY18, says Ind-Ra

India Ratings and Research (Ind-Ra) has said that it expects the gross domestic product (GDP) to grow 7.4 per cent year-on-year in FY18. According to Ind-Ra, helped by consumption demand and government spending, the gross value added of the three production sectors namely agriculture, industry and services would grow at 3 per cent, 6.1 per cent and 9.1 per cent yoy, respectively, in FY18.

While private final consumption expenditure is expected to grow at 8.9 per cent, the government final consumption expenditure is expected to clock 9 per cent growth in FY18, it said. Ind-Ra, however, has revised down its GDP growth estimate for FY17 to 6.8 per cent from 7.9 per cent, which is even lower than Central Statistical Organisation’s advanced estimate of 7.1 per cent. Although GDP growth after bottoming out in FY13 has recovered, sustaining it in the medium to long term has emerged as a key challenge for the India economy.

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