India’s GDP growth to hike by 7.8% in 2016-17: Nomura

Posted on:03 Mar 2016 09:35:44
India’s GDP growth to hike by 7.8% in 2016-17: Nomura
03 March 2016 Current Affairs: India's GDP growth is likely to pick up to 7.8 per cent in fiscal 2016-17 from 7.6 per cent this year, largely driven by higher discretionary demand, a Nomura report we expect GDP growth (at market prices) to pick up to 7.8 per cent in FY17 from 7.6 per cent in FY16," Nomura said in a research note The Reserve Bank of India to deliver a 25 bps rate cut in April to support growth, as the government has stuck to its fiscal consolidation targets," Nomura .RBI Governor Raghuram Rajan on February 2 had left the key interest rate unchanged citing inflation risks and growth concerns, while pegging further easing of monetary policy to the government's Budget proposals.

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