Indian Economy to Grow at 7.2% in 2016-17: BMI Research
March 26, 2016: According to BMI research, the Indian Economy is likely to be grow at 7.2 per cent in 2016-17 that is lower than the government statistics of 7.6 per cent GDP growth. This shortfall is because of the weak investments.
"We forecast India's real GDP growth to come in at 7.2 per cent for FY17 from our estimate of 7.3 per cent in FY16 and 7.2 per cent in FY15," the research firm said in a statement.
There are different factors to determine the GDP growth forecast and Indian economy is facing challenges such as industrial production and trade. The finance ministry had projected 7.6 per cent GDP growth rate during the Union Budget presentation in February 2016.
"Weak private investment and external headwinds will be hurdles to higher growth, and we forecast real GDP growth to come in at 7.2 per cent in FY2016/17 (versus 7.3 per cent in FY2015/16)," the statement said.