NCAER pegs India's 2018-19 economic growth at 7.5%

Posted by Daily Shipping Times on 28-02-2018        Tweet

NEW DELHI: The Indian economy is projected to grow at 6.7 per cent in the current financial year and 7.5 per cent in 2018-19, economic think-tank NCAER said.

The figures are in line with the growth projections in this year's Economic Survey, which said India is likely to clock 7-7.5 per cent growth in 2018-19, up from 6.75 per cent in the current fiscal.

"NCAER forecasts a growth of 6.7 per cent for the Gross Domestic Product (GDP) at market prices... For 2018-19, NCAER forecasts a growth of 7.5 per cent for GDP at market prices," it said. In a statement, the National Council of Applied Economic Research (NCAER) also said that in 2017-18, the real agriculture Gross Value Added (GVA) is envisaged to grow at 1.0 per cent, real industry GVA at 5.2 per cent, and real services GVA at 8.0 per cent.

It further said the wholesale price index (WPI) inflation is projected at 6.4 per cent for 2017-18.

The growth rates in exports and imports, in dollar terms, are estimated at 12.8 per cent and 24.8 per cent, respectively.