Indian economy to grow at 7.8 % in 2016-2017: FICCI
Q. FICCI Economic Survey pegged India’s economy at which figure during the current financial year?- Published on 31 Aug 16
a. 7.6 percent
b. 7.7 percent
c. 7.8 percent
d. 7.9 percent
ANSWER: 7.8 percent
As per a FICCI survey, India’s economy is likely to expand by 7.8 percent during the current financial year.
- There has been marginal improvement in growth estimate for 2016-2017
- RBI also pegged the growth rate at 7.6 percent in 2016-2017
- FICCI’s Economic Outlook survey put median GDP growth forecast of 7.8 percent for the current fiscal year. Further, the estimated median GVA (gross value added) growth for Q1 FY17 has been put at 7.6 percent.
- The survey was conducted during July-August among leading economists belonging to the industry, banking and financial services sector.
- The trade body also said the median growth forecast for IIP has been put at 3.5 percent for the year 2016-17, with a minimum and maximum range of 2 percent and 4.3 percent, respectively. Median inflation forecast for 2016-17 has noted a marginal increase in comparison to the previous round.
- The median forecast for Wholesale Price Index based inflation rate for 2016-17 has been put at 2.4 percent while for Consumer Price Index it is 5.2 percent.