India’s GDP to grow at 7.5% in FY18: Moody’s….
Credit rating agency Moody’s Investors Service today projected India’s economy to accelerate to grow at 7.5% in 2017-18 and 7.7% in 2018-19 as the government has been able to limit the negative impact of last year’s demonetisation on the economy. He expect marginally faster growth in India. Overall, they continue to believe that economic growth will gradually accelerate to around 8% over the next three to four years. The rating agency said the government has been successful in pushing through several key reforms including liberalization of foreign direct investment rules in a number of key sectors, including defence, railway infrastructure, civil aviation and insurance; the direct benefit transfer (DBT) scheme for food; fertilizer and kerosene subsidies; the goods and service tax, which is expected to come into effect in July; and a national bankruptcy code. “Together these will help reduce inefficiencies and improve trend growth over the long run.
(Impact: Positive for INR)
Source: Mint
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