Overjoyed stock markets soar to 19-month high
However, GDP numbers on Friday could show growth has moderated to a decade’s low. Finance minister P Chidambaram has estimated it at 5.5 to 6 per cent in the current fiscal. The Goldman Sachs report notes that the Indian economy is likely to grow by 6.5 per cent in 2013, driven by favourable external demand outlook and push for domestic structural reforms.
The report comes a day after rating agency Moody’s stable outlook for the Indian economy eased concerns of a downgrade and added to positive investor sentiments.
“For India, upside drivers include a recovery in growth, a decline in inflation, and the potential for continued policy reforms,” it said.
Be the first to comment.