Based on Q3 GDP data, the full year’s growth has been revised upwards to 6.6%. If this GDP growth rate is realized, the size of the Indian economy is projected to grow to $2.6 trillion at the end of March. The Indian economy had expanded by 7.1% in 2016-17, 8.2% in 2015-16 and 7.4% in 2014-15. Madan Sabnavis, chief economist at Care Ratings, said the Indian economy should grow gradually to 7.5% in 2018-19. But given that government spending has driven economic growth, the rising fiscal deficit numbers could prove to be a constraint.

Source: Mint February 28, 2018 12:05 UTC