Afternoon D & C Dedicated To Mumbai
Home > Business > India FY18 GDP growth likely at 7.1%: Nomura

India FY18 GDP growth likely at 7.1%: Nomura

Thursday, September 14, 2017

India's GDP growth is expected to be around 7.1% this fiscal following a likely pick up in industrial production as firms resort to 'restocking' post GST especially ahead of festive season, says a Nomura report.

According to the Japanese financial services major, post-GST restocking is likely to drive a faster pace of industrial output growth in the coming quarters.

Before the implementation of Goods and Services Tax (GST), destocking was triggered largely owing to a steep fall in demand from consumers as they delayed purchases. Post GST implementation, restocking might pick up in anticipation of rising demand conditions.

Nomura further said the ongoing remonetisation will have a positive impact on the cash-intensive services sectors and this in turn will help to augur growth numbers.

"On the growth front, we expect industrial production to gradually pick up as firms focus on restocking after GST and especially ahead of the festive season; hence we think the recovery will likely continue to be led by consumption," Nomura said.

"Overall, we expect GDP growth of 7.1% year-on- year and GVA growth of 6.7% in 2017-18 (year ending March 2018)," it said.

COMMENTS
No Comments Posted
POST YOUR COMMENTS
Name:  
 
Email:    
Comments:
 
 
City news
A total of 234 roads were investigated and ...
Anti-Terrorism Squad’s Bolero car stolen from cop
The Maharashtra State Bank Employees’ Federation
We got married recently. I am 32 and my wife is 3
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)This is the right time to ask for help if you need it. Adjustments are necessary almost at every level. You must adapt to some things that you cannot change. Do not be rigid and accept readily with grace. Use your money wisely, for there may be several demands. A long distance journey to a pilgrim spot or the need to meet a person you look up to is likely. The need to get an unbiased opinion about your affairs is strong.
- Advertising -
Read More