Indian Economy Projections for fiscal 2017

United Nations World Economic Situation and Prospects (WESP) 2017 report:
  • India’s economy is projected to grow by 7.7% in fiscal 2017 and 7.6% in 2018
  • India will remain the fastest growing large developing economy due to its strong private consumption and gradual introduction of significant domestic reforms.
  • However, low capacity utilisation and stressed balance sheets of banks and businesses will prevent a strong investment revival in the short term
  • IMF had cut India’s growth rate for FY2017 to 6.6% from its previous estimate of 7.6% due to the “temporary negative consumption shock” of demonetisation.
World Bank:
  • WB decelerated India’s GDP growth for 2016-17 fiscal to 7% from its previous estimate of 7.6% citing the impact of demonetisation.


Related Notes:

Overview of Indian Economy

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