Indian economy to grow at 7.3% in FY 2018-19: Report
Robust activities in certain industries including manufacturing will help the Indian economy to grow to 7.3 per cent in fiscal 2018-19, according to a recent report. It says that the negative impact of demonetisation as well as GST has subsided to a large extent. The economic growth of the country was 6.6 per cent in the financial year 2017-18.
The rise in foreign direct investment (FDI) is also expected to boost the economic growth of the country, states the BMI research by Fitch group company. FDI’s growth can be attributed to the improvements in the business conditions and certain regulatory amendments like liberalisation of domestic single brand retail trading to 100 per cent ownership through FDI. These measures are expected to encourage foreign investors to invest in India, said a news agency quoting the research.
The BMI research has predicted that growth will pick up in India and Sri Lanka, while Bangladesh and Pakistan will witness a slowdown in their economies due to rising political uncertainty and an increase in economic imbalances, respectively. (KD)
Source: The Hindu, India Tuesday, 08 May 2018