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Global rating agency Fitch has maintained the Forecast of India’s growth at 7.5

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Global rating agency Fitch has maintained its growth forecast for India at 7.5 per cent this fiscal and sees higher growth over the next two financial years.

Global rating agency Fitch has maintained the Forecast of India’s growth at 7.5

Points to note

  • Fitch also claims for a 8% growth in short term is not possible
  • Fitch has maintained its Gross Domestic Product (GDP) growth forecast for India for the fiscal year ending March 2016 at 5 per cent
  • Growth is expected to gradually accelerate to 7 per cent in 2016-17 and 7.9 per cent in 2017-18
  • Higher real disposable income, a normal monsoon and a substantial wage increase for central government employees will support economic recovery
  • Structural reforms like Land Acquisition Amendment Bill and the Goods and Services Tax also likely to support the growth
  • The Budget contained some further announcements of reforms, including measures related to the FDI regime, the financial sector and agriculture which is viewed as a reform agenda

Points to note

  • Finance minister– Arun Jaitley
  • Union Finance secretary– Ratan.P.Watal