Monday, 29 May 2017

India seen staying fastest growing major economy in January-March quarter

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India remained the fastest growing major economy in the world last quarter, with growth buoyed by an improved performance in manufacturing and services. Prime Minister Narendra Modi's ban of high-value currency notes last year had a major short-term impact on demand but private and public consumption has recovered.

The median forecast from a poll of 35 economists showed the economy grew 7.1 percent annually in the first three months of this year. Forecasts ranged from 6.5 to 7.8 percent.

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