India’s economic growth on recovery path: CLSA
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