Indian economy to grow 7.7 percent in this fiscal : FICCI
Q. Indian economy will grow by what percent according to FICCI’s Economic Outlook Survey?- Published on 31 May 16a. 7.7%
b. 7.8%
c. 7.9%
d. 7.10%
ANSWER: 7.7%
Indian economy will grow 7.7% in this fiscal amidst likely improvement in the industrial and agricultural sectors performance on account of good monsoon. The investment cycle is to take 6 months to witness a pickup says the survey. The growth in 2016-2017 is expected to be supported by an improvement in the agricultural and industrial sector performance. Prediction of a good monsoon after consecutive years of sup optimal rainfall will back the improved outlook in the current fiscal.
- The FICCI economic outlook survey also puts across a median GDP growth forecast of 7.7% for FY2016-2017.
- RBI in the previous month forecast a 7.6 percent growth in the current fiscal with the onset of a favourable monsoon.
- Agriculture sector is expected to record a median growth rate of 2.8 percent in 2016-2017 with a maximum and minimum range of 3.5 and 1.6. Industrial growth is expected to grow by 7.1 percent in 2016-2017.
- Services sector is estimated to grow at 9.6 percent. The survey was conducted during April/May 2016 among economists belonging to the industry, banking and financial services sector.
