New Delhi: The NCAER, the country's oldest non-profit economic policy research institute, has forecast that the Indian economy will grow at a sluggish 6.2 per cent this year. The NCAER forecast, which was made in its mid-year review of the Indian Economy, is lower than the IMF forecast of 6.7 per cent that was made last month. Last month, the Reserve Bank of India had also lowered its growth forecast - based on gross value added (GVA) which strips out the effect of product taxes and subsidies - to 6.7 per cent. Bhanumurthy of the government-funded Institute of Economic Growth has taken a contrarian view and projects a growth rate of 7 per cent this year. A study of the sectoral share of loans indicates that the growth in credit for industry continued to be negative at -0.44 per cent for the July-September 2017.

Source: The Telegraph November 14, 2017 21:56 UTC