India Ratings Projects Economic Growth at 7.1 Next Fiscal

Posted on:19 Jan 2018 10:42:14
India Ratings Projects Economic Growth at 7.1 Next Fiscal
19 January 2018 Current Affairs: India Ratings and Research have projected the country’s economic growth to improve to 7.1 percent in 2018-19 from 6.5 percent in 2017-18, buoyed by robust consumer demand and low commodity prices.

In its outlook for 2018-19, according to the agency, there will be a gradual pickup in growth momentum owing to structural reforms like GST and Insolvency and Bankruptcy Code in place.

The projection is a tad lower than 7.4 percent growth estimated by Asian Development Bank and International Monetary Fund for next fiscal.

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