The Indian economy had grown by 6.3% in the September quarter, after slumping to a three-year low of 5.7% GDP growth in the June quarter. The government forecast economic growth slowing to 6.5% in the year to 31 March from 7.1% in the previous year. “GDP growth of 6.5% for 2017-18 implies growth of 7% for the second half. Pronab Sen, former chairman of the National Statistical Commission, said 6.5% GDP growth may be an over-estimation based on growth rate in indirect taxes assumed in the budget. GDP growth for FY18 may settle down at 6.3%,” he added.

Source: Mint January 05, 2018 12:05 UTC