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Indian economy to remain strong in 2016-17

by ChemOrbis Editorial Team -
  • 19/01/2016 (14:03)
According to India Ratings & Research (Ind-Ra), the Indian economy will grow by 7.9% in the next financial year which begins on April 1, 2016 and ends on March 31, 2017 compared with a growth rate of 7.4% in the current financial year.

The agency reported in its yearly growth outlook that they expect the economy to post robust growth through 2019 while adding that domestic demand will remain the key driver of GDP growth.

Ind-Ra expects the agriculture sector to expand by 2.2% in the next financial year while the services and industrial sectors are expected to grow by 9.5% and 7.6%, respectively. The agency also expects the fiscal deficit to stay at around 4.1% of GDP in the current financial year, which is higher than government’s target to reduce the deficit to 3.9%.
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