HSBC Estimates India’s GDP Growth at 7.1% in 2017-18
Posted on:03 Feb 2017 09:33:25
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03 February 2017 Current Affairs: HSBC has estimated the GDP growth rate of India at 7.1 percent for the year 2017-18 which is up from the 6.3 percent in the year 2016-17.
The main reason for this increase is cited to sufficient remonetization by April end, thus boosting the consumption level in the country to normal. Besides, the schemes announced in Budget 2017-18 are also seen to play major role in the growth rate.
Besides, the investment is projected to remain weak within a range of 7.5-8 percent.
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