Indian Economy to Grow by 7.4pc, Survey Says

The  Ficci's Economic Outlook Survey issued on Tuesday showed that the Indian economy would likely expand by 7.4 percent in the current fiscal year, and the figure is higher compared in the previous fiscal. However, increasing oil prices puts pressure on the current account and the global risks in trade and financial markets contain major uncertainties against the rupee, according to economists of the said poll.

Moreover, trade conflict between major countries greatly affects the global development. The survey projected for an annual median GDP increase at 7.4 percent for 2018-2019, with a minimum and maximum range of 7.1 and 7.5 percent, respectively. The temporary growth in the GDP for 2017-2018 was 6.7 percent. Furthermore, during the growth in Q1 of the current FY, the survey presents that the increase in economic activity would likely reach 7.1 percent. The first quarter GDP figures are scheduled to be released by the Central Statistics Office on August 31.