Afternoon D & C Dedicated To Mumbai
Home > Business & Investment > Economy may grow by over 6.5% in FY’18, says Panagariya

Economy may grow by over 6.5% in FY’18, says Panagariya

Monday, December 04, 2017

Noted economist and former vice chairman of Niti Aayog Arvind Panagariya expects the economy to grow by over 6.5% in the current financial year. He said the macro-economic indicators have remained stable for the past 3 years with current account deficit hovering around 1% and inflation moderating.
"Expectations of implementation of the GST beginning July 1, 2017 led to some disruptions in supply during the April- June quarter with the quarterly growth rate declining to 5.7%.

"But we should see recovery coming our way with the growth rate during 2017-18 reaching 6.5% or higher," he told PTI in an interview.

Panagariya pointed out that a recently released Goldman Sachs report makes a plausible case that the economy will accelerate to 8% growth in 2018-19.

Reversing a five-quarter slide in GDP growth, the Indian economy bounced back from a three-year low to expand by 6.3% in July-September as manufacturing revved up and businesses adjusted to the new GST tax regime.

On whether the government could relax fiscal deficit target to boost economy, Panagariya said: "Personally, I do not believe that the Finance Minister and the Prime Minister would let their hard-fought success in achieving significant progress in fiscal consolidation slip past them at this late stage in the game."
 

COMMENTS
No Comments Posted
POST YOUR COMMENTS
Name:  
 
Email:    
Comments:
 
 
City news
8 girls in Karjat school RAPed by caretaker
In a massive two-day-long demolition drive agains
It took 48 days for the BMC to ...
I am 24 year old girl working since last 5 years.
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Astrology
Select Sun sign:
 
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)If your work has anything to do with money, today you will be busy counting your riches! If you've applied for a loan, it may get sanctioned today. Look for variety, says Ganesha, and you may find your day filled with smiles and what not.
- Advertising -
A unique aspect of IPL fandoms is the combination
Sotheby’s Boundless: Mumbai will showcase importa
The Friday the 13th ‘ghost walk’ in Mumbai was so
Read More