NEW DELHI: India's financial growth could be beneath 7 in step with cent this fiscal, say professionals, bringing up GST disruption and lingering have an effect on of observe ban.
The Indian financial system grew 7.1 in step with cent in 2016-17, against 8 in step with cent in 2015-16.
The Central Statistics Office (CSO) is scheduled to release its advance estimates of national source of revenue 2017-18 on Friday.
"It is difficult for GDP to cross 7 per cent this fiscal unless the base is revised downwards. The economy is expected to do well in the third and fourth quarter," SBI Research Chief Economist Soumya Kanti Ghosh informed PTI.
Ghosh said the GDP growth could be 6.five in step with cent on unchanged base last 12 months.
Elaborating further, Ghosh said the growth may well be upper if the last 12 months's growth is revised downwards because decrease base last fiscal would lead to upper growth for 2017-18.
Echoing equivalent perspectives, former Planning Commission Deputy Chairman Montek Singh Ahluwalia said the GDP growth could be around 6.2 in step with cent to 6.three in step with cent for the current fiscal.
Sugata Bhattacharya, leader economist at Axis Bank, said the Gross Value Added (GVA) could be 6.6-6.8 in step with cent for the current fiscal.
"We have not factored in tax collections in the current fiscal. But if the tax collections remain robust then the GDP growth could be higher," he said.
The GVA is a new thought introduced by the CSO to measure the efficiency of the financial system. The GDP is tabulated by including taxes to the GVA after reducing subsidies from that.
Former Planning Commission member and senior economist Abhijit Sen said the GDP growth could be in the range of 6 in step with cent to 6.five in step with cent this fiscal, bringing up system defects on tax collection front after the Goods and Services Tax (GST) rollout.
He used to be skeptical about buoyancy in the most recent PMI data and different numbers used for showing rosy image of state of financial system at this point of time.
The Indian financial system grew 7.1 in step with cent in 2016-17, against 8 in step with cent in 2015-16.
The Central Statistics Office (CSO) is scheduled to release its advance estimates of national source of revenue 2017-18 on Friday.
"It is difficult for GDP to cross 7 per cent this fiscal unless the base is revised downwards. The economy is expected to do well in the third and fourth quarter," SBI Research Chief Economist Soumya Kanti Ghosh informed PTI.
Ghosh said the GDP growth could be 6.five in step with cent on unchanged base last 12 months.
Elaborating further, Ghosh said the growth may well be upper if the last 12 months's growth is revised downwards because decrease base last fiscal would lead to upper growth for 2017-18.
Echoing equivalent perspectives, former Planning Commission Deputy Chairman Montek Singh Ahluwalia said the GDP growth could be around 6.2 in step with cent to 6.three in step with cent for the current fiscal.
Sugata Bhattacharya, leader economist at Axis Bank, said the Gross Value Added (GVA) could be 6.6-6.8 in step with cent for the current fiscal.
"We have not factored in tax collections in the current fiscal. But if the tax collections remain robust then the GDP growth could be higher," he said.
The GVA is a new thought introduced by the CSO to measure the efficiency of the financial system. The GDP is tabulated by including taxes to the GVA after reducing subsidies from that.
Former Planning Commission member and senior economist Abhijit Sen said the GDP growth could be in the range of 6 in step with cent to 6.five in step with cent this fiscal, bringing up system defects on tax collection front after the Goods and Services Tax (GST) rollout.
He used to be skeptical about buoyancy in the most recent PMI data and different numbers used for showing rosy image of state of financial system at this point of time.
India's GDP growth to slip below 7% this fiscal, say experts
![India's GDP growth to slip below 7% this fiscal, say experts]()
Reviewed by Kailash
on
January 03, 2018
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