GDP growth may improve to 6.2% in Q2: Ficci
India’s gross domestic product (GDP) growth rate is expected to rise to 6.2 per cent in the second quarter of the current fiscal year, as the adverse impact of demonetisation and the goods and services tax appears to be bottoming out, Ficci’s latest Economic Outlook Survey said on Monday.
The growth rate had dipped to a three-year low of 5.7 per cent in the April-June quarter of 2017-18. The Central Statistics Office is scheduled to release the economic growth data for the July-September quarter on November 30. The economists participating in the survey also mentioned that the government should continue with its emphasis on productive capital investments in the social and physical infrastructure space even if this requires some calibration of the fiscal year deficit target, the industry body said.
The projected fiscal deficit number for FY18 is likely to be slightly higher at 3.3 per cent of the GDP in the current fiscal year, against the government’s target of 3.2 per cent.