Gross domestic product for the current fiscal year, which ends March 2016, is expected to be at 7.4 percent, down from the bank's estimate in March of 7.8 percent.
8For fiscal year 2016, growth is forecast at 7.8 percent, down from the earlier GDP growth forecast of 8.2 percent.
8Slow global economic growth and a general lack of investor confidence are dragging on India's growth.
8“On the upside, inflation is trending down, crude oil import prices have fallen sharply, and tax revenue and net foreign direct investment inflows are up, which augurs well for a bounce back in the economy," the report said
8India is likely to be benefited from the low crude oil prices, but an up tick in prices for commodities, including crude oil, are expected to boost inflation in FY2016.
8The slump in exports in the first quarter is likely to continue with listless global demand and a drop in exports of refined oil products.
8According to report, some recovery in oil prices and improved demand for industry and investment will likely push import growth to 8.0% in FY2016 for India.
8Moreover, exports are also likely to recover, growing by 3.5% as higher petroleum prices boost the value of exports of refined petroleum products and as external demand improves.
For more details visit indianpetroplus.com
8For fiscal year 2016, growth is forecast at 7.8 percent, down from the earlier GDP growth forecast of 8.2 percent.
8Slow global economic growth and a general lack of investor confidence are dragging on India's growth.
8“On the upside, inflation is trending down, crude oil import prices have fallen sharply, and tax revenue and net foreign direct investment inflows are up, which augurs well for a bounce back in the economy," the report said
8India is likely to be benefited from the low crude oil prices, but an up tick in prices for commodities, including crude oil, are expected to boost inflation in FY2016.
8The slump in exports in the first quarter is likely to continue with listless global demand and a drop in exports of refined oil products.
8According to report, some recovery in oil prices and improved demand for industry and investment will likely push import growth to 8.0% in FY2016 for India.
8Moreover, exports are also likely to recover, growing by 3.5% as higher petroleum prices boost the value of exports of refined petroleum products and as external demand improves.
For more details visit indianpetroplus.com
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