​​​
  1. GDP to grow at 7.4% in FY18, says India Ratings

GDP to grow at 7.4% in FY18, says India Ratings

Backed by consumption demand and government spending, India’s gross domestic product (GDP) will grow by 7.4% in FY18 from 6.8% in FY17, India Ratings (Ind-Ra) said in its forecast on Tuesday.

By: | New Delhi | Published: February 15, 2017 8:33 AM

Backed by consumption demand and government spending, India’s gross domestic product (GDP) will grow by 7.4% in FY18 from 6.8% in FY17, India Ratings (Ind-Ra) said in its forecast on Tuesday.

The gross value added of the three production sectors — namely, agriculture, industry and services —would grow at 3%, 6.1% and 9.1% y-o-y, respectively, in FY18, the rating agency said in its Macro Economic Outlook.

While private final consumption expenditure is expected to grow at 8.9%, the government’s final consumption expenditure is expected to clock 9% growth in FY18, it said. Ind-Ra has revised down its GDP growth estimate for FY17 to 6.8% from 7.9%, which is lower than Central Statistical Organisation’s advanced estimate of 7.1%.

On the Union Budget FY18’s fiscal deficit target of 3.2% of GDP, it said achieving the target looks plausible.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top