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.
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
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