In­dia’s eco­nomic growth on re­cov­ery path: CLSA

Mint ST - - CORPORATE -

New Delhi: In­dia’s econ­omy is on the path of re­cov­ery and will ex­pand by about 7-7.5% in the next fi­nan­cial year af­ter grow­ing about 6.8% in 2017-18, an­a­lysts at in­vest­ment group CLSA said at a brief­ing on Tues­day. Faster growth in the next fis­cal year will be on ac­count of the nor­mal­iza­tion of busi­ness af­ter roll­out of the goods and ser­vice tax (GST) in July and the sta­tis­ti­cal ef­fect of the slower growth es­ti­mated in the cur­rent fis­cal year, ex­plained Ma­hesh Nandurkar, In­dia strate­gist at CLSA. “The ef­fect of de­stock­ing (of man­u­fac­tured items in the sup­ply chain) is tem­po­rary. Re-stock­ing is hap­pen­ing now, which will lead to nor­mal­iza­tion of eco­nomic growth,” said Nandurkar.

GIREESH CHAN­DRA PRASAD

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