LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Indian economy set to surprise in 2018; growth set to soar; here's why

Indian economy recorded a five-quarter high growth of 7.2  per cent  in the October-December period on  good  showing by key sectors like agriculture, construction, and  manufacturing

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Indian economy set to surprise in 2018; growth set to soar; here's why
The report said that the negative effect of major reforms like GST and demonetisation is wearing off now as there is high optimism in domestic demand in the form of consumption and revival in small scale business activities. Image source: PTI
Written By: PTI
Updated: Tue, Mar 13, 2018
06:45 pm
PTI
RELATED NEWS
Ceasefire: Hotline contact! Modi government issues statement after discussion of India-Pakistan's DG Military Operations Ceasefire: Hotline contact! Modi government issues statement after discussion of India-Pakistan's DG Military Operations
Earthquake in Uttarakhand Today: Strong quake of magnitude 4.0 shakes hill state, spreads panic Earthquake in Uttarakhand Today: Strong quake of magnitude 4.0 shakes hill state, spreads panic
LPG Price Today: BAD News! Govt hikes cooking gas price; check new price that you will have to pay from today LPG Price Today: BAD News! Govt hikes cooking gas price; check new price that you will have to pay from today
Driving Licence Apply Online: Aadhaar card holders need not stand in queue after this central government's decision; details at parivahan.gov.in Driving Licence Apply Online: Aadhaar card holders need not stand in queue after this central government's decision; details at parivahan.gov.in
Killer Bird Flu Alert: Do NOT eat eggs, chicken prepared this way; 10-pt Warning issued by FSSAI over avian influenza virus; check full list Killer Bird Flu Alert: Do NOT eat eggs, chicken prepared this way; 10-pt Warning issued by FSSAI over avian influenza virus; check full list

Revival in rural demand, increased infrastructure spending is likely to drive India's growth in current year, even as increasing debt and trade protectionism could pose a challenge, said a Deloitte report. The 'Voice of Asia' report of Deloitte predicts a faster than expected growth for Indian economy against the backdrop of increasing crude oil prices and volatile market conditions. "The improvement in domestic conditions is a positive sign that growth is picking up and will continue to maintain strong momentum in 2018, retaining India's position as the 'fastest-growing large economy' in the world," a statement said.

Showing signs of recovery, the Indian economy recorded a five-quarter high growth of 7.2 per cent in the October-December period on good showing by key sectors like agriculture, construction and manufacturing. The economy is expected to grow at 6.6 per cent in the current fiscal ending March 31, as per official estimates, compared to 7.1 per cent in 2016-17. "After a year of disruptions and growth slowdown, Indian economy is consolidating the gains from the recent reforms and is moving in the right direction. With a steady increase in FDI inflows and pick-up in growth in the Q3 of 2017, 2018 will expectedly remain a period of strong growth for India with a growth rate of around 6.8 - 6.9 per cent," Deloitte India Partner and Lead Economist Anis Chakravarty said.

The report said that the negative effect of major reforms like GST and demonetisation is wearing off now as there is high optimism in domestic demand in the form of consumption and revival in small scale business activities, resulting in an increase in FDI flows into the country. Moreover, the government has made huge strides towards financial inclusion and pushing the expansion of digital India. India is steadily moving towards greater formalisation of the informal economy, it added.

The report said that with eye on infrastructure development, the government has given green light to an Rs 7 trillion infrastructure program in late 2017, with the aim to pave more than 80,000 km of road by March 2022. The report further said that global economic growth is likely to move up further as more than 75 per cent of the world economy is now enjoying an upswing, with forecasts anticipating global growth to rise to 3.6 per cent in 2017 and 3.7 per cent in 2018, from 3.2 per cent in 2016.

"As the global economy is in its heights after recovering from the shocks of 2008 crisis, India should take the benefit of this opportunity. India's ability to stave off the economic gales was helped by the fact that it is much less dependent than most countries on global flows of trade and capital. And therefore, the recovery in global economic conditions should help India boost its domestic growth," it added. With regard to challenges facing the Asian region, the report said there is a build-up of debt from the post-2008 financial crisis period of excess global liquidity. Besides, the spread of global protectionist sentiment is a concern for the Asian economies, it said. 
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
india
RELATED NEWS
Ceasefire: Hotline contact! Modi government issues statement after discussion of India-Pakistan's DG Military Operations Ceasefire: Hotline contact! Modi government issues statement after discussion of India-Pakistan's DG Military Operations
Earthquake in Uttarakhand Today: Strong quake of magnitude 4.0 shakes hill state, spreads panic Earthquake in Uttarakhand Today: Strong quake of magnitude 4.0 shakes hill state, spreads panic
LPG Price Today: BAD News! Govt hikes cooking gas price; check new price that you will have to pay from today LPG Price Today: BAD News! Govt hikes cooking gas price; check new price that you will have to pay from today
Driving Licence Apply Online: Aadhaar card holders need not stand in queue after this central government's decision; details at parivahan.gov.in Driving Licence Apply Online: Aadhaar card holders need not stand in queue after this central government's decision; details at parivahan.gov.in
Killer Bird Flu Alert: Do NOT eat eggs, chicken prepared this way; 10-pt Warning issued by FSSAI over avian influenza virus; check full list Killer Bird Flu Alert: Do NOT eat eggs, chicken prepared this way; 10-pt Warning issued by FSSAI over avian influenza virus; check full list

LATEST NEWS

Money earning scheme: This SBI plan will give you more than Rs 81,000 interest

Big HELP by Indian Railways! This man paid Rs 6011 instead of Rs 60 to a vendor! Check how RPF helped him get his money back

SBI share price today: After some consolidation stock ready to make new HIGHS! On course to reach Rs 450 in just 2 weeks

GameStop stock doubles in afternoon; even Reddit is surprised

IRCTC Share price: Dolat Capital initiates coverage on with target of Rs 2650

India's Marvel! World's highest rail bridge arch on Chenab in Jammu and Kashmir nears completion, says Piyush Goyal

Vodafone Idea: Vi is offering double data benefits on these prepaid plans | Check full details NOW

Online news media publishers may come under the ambit of Section 69(A) of IT Act: Report

ZeeBiz raises critical questions on NSE trading glitch; Anil Singhvi demands inquiry, asks who will pay compensation for loss?

Manufacturing, MSMEs spearheading economic growth: RBI Governor Das

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved