RSS   Newsletter   Contact   Advertise with us

India's economic growth to pick up in coming fiscal year

Staff Writer | January 29, 2018
India will regain its position as the world's fastest-growing major economy in the next fiscal year beginning April 1.
India factory
Asia   The economic survey
But it would do well to slow down the move toward lower fiscal deficits to fund that growth, a government report said.

The government's economic survey, presented to parliament went on to say that though the plan has been to reduce the fiscal deficit from an estimated 3.2 percent this year to 3.0 percent in 2018/19, a pause in the move toward a lower deficit could be merited in order to give the economy momentum.

The survey was prepared by the finance ministry's Chief Economic Adviser Arvind Subramanian, who estimates that gross domestic product will have grown 6.75 percent in the current fiscal year ending in March.