BackWhich way is the Indian economy headed?
The June quarter gross domestic product (GDP) numbers will be crucial to gauge which way the economy is moving
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India’s statistics office will release gross domestic product (GDP) data for the first quarter (April-June) of the current fiscal 2017 on Wednesday.
Buoyed by the expectation of a normal monsoon and pay hikes for central government employees, the government expects growth to pick up to 8% in 2016-17 from 7.6% in 2015-16.
Multilateral agencies such as the International Monetary Fund (7.4%) and the Asian Development Bank (7.4%) have projected the Indian economy to slow down from its last year’s level.
However, agencies such as Fitch Ratings and Goldman Sachs have projected the economy to marginally accelerate in the current fiscal to grow at 7.7%.
Amid such mixed projections, the June quarter GDP numbers will be crucial to gauge which way the economy is moving.
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