India’s GDP growth to slip below 7% this fiscal, say experts

New Delhi: India’s economic growth is likely to be below 7% this fiscal, say, experts, citing GST disruption and the lingering impact of note ban.
The Indian economy grew 7.1% in 2016-17, against 8% in 2015-16.
The Central Statistics Office (CSO) is scheduled to release its advance estimates of national income 2017-18 on Friday.
“It is difficult for GDP to cross 7% this fiscal unless the base is revised downwards. The economy is expected to do well in the third and fourth quarters,” SBI Research Chief Economist Soumya Kanti Ghosh said.
Ghosh said the GDP growth would be 6.5% on unchanged base last year.
Elaborating further, Ghosh said the growth could be higher if the last year’s expansion is revised downwards because lower base last fiscal would result in higher growth for 2017-18.
Echoing similar views, former Planning Commission Deputy Chairman Montek Singh Ahluwalia said the GDP growth would be around 6.2% to 6.3% for the current fiscal.
Sugata Bhattacharya, Chief Economist at Axis Bank, said the Gross Value Added (GVA) would be 6.6-6.8% for the current fiscal.

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