Current Affairs 14/09/2017

  • India FY18 GDP growth likely at 7.1 percent 155 Published On: 14/09/2017  

    India FY18 GDP growth likely at 7.1 percent

    - 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.