According to the SBI report, growth of manufacturing and service sectors may turn out weak in the July-September quarter. Photo: MintNew Delhi: The outlook for India’s economic growth, which plunged below 6% in the first quarter of the current fiscal, looks muted, with the possibility of the GDP going below 6.5% in 2017-18, says an SBI research report . According to the report, growth of manufacturing and service sectors may turn out weak in the July-September quarter as destocking in manufacturing sector activity has well continued in the second quarter of this fiscal, at least till mid-August. “Overall, it remains to be seen whether the GDP growth for current fiscal stays below 6.5%,” it added. On a positive side, the slowly picking credit growth on the eve of festival seasons will support the growth, the report said.

Source: Mint September 01, 2017 13:30 UTC