FICCI’s Economic Outlook Survey Projects GDP to grow 6.8 Percent in FY 17
Posted on:01 Feb 2017 09:26:53
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01 February 2017 Current Affairs: Based on the latest Economic Outlook Survey report released by FICCI on January 30, 2017, the India’s GDP is projected to grow 6.8 percent this fiscal which is 0.5 percent points less than FICCI’s previous estimate of 7.3 percent.
FICCI conducted the last round of survey between December 2016 and January 2017 and collected responses from leading economists representing industry, banking and financial services sectors.
A slowdown in the estimate is due to the decrease in services and infrastructure sectors post demonetization.
FICCI estimated that the agriculture sector may witness slight increase in the current fiscal due to good monsoon while the industry and services sector have been expected to grow moderately by 5.7 percent and 8.5 percent, respectively.
Earlier, the Central Statistical Organisation (CSO) had estimated a GDP growth of 7.1 percent for 2016-17.
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