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Indian economy to recover to 7.1% in FY2019: report
17 Mar '18
1 min read
The Indian economy is likely to recover to 7.1 per cent in the next fiscal as disruptions related to the goods and services tax (GST) have smoothened and consumption levels have improved, according to a report by Kotak Economic Research, which says a gradual recovery is now under way from the cyclical and structural bottlenecks of the past two years.
Improving global growth prospects are further expected to remain supportive of the growth, it said.
“While the ongoing gradual improvement in private investment continues to provide hope of a revival in the capex cycle, the spare capacity in the economy along with a slow resolution of twin balance sheet problems are expected to continue to constrain growth in FY2019,” a news agency report quoted the company document as saying.
The Reserve Bank of India is expected to maintain a status quo through the first half of this calendar year, it added. (DS)
Improving global growth prospects are further expected to remain supportive of the growth, it said.
“While the ongoing gradual improvement in private investment continues to provide hope of a revival in the capex cycle, the spare capacity in the economy along with a slow resolution of twin balance sheet problems are expected to continue to constrain growth in FY2019,” a news agency report quoted the company document as saying.
The Reserve Bank of India is expected to maintain a status quo through the first half of this calendar year, it added. (DS)
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