India eyes pole position with fastest growth tag

 

India eyes pole position with fastest growth tag

New Delhi - A pause in the move towards a lower deficit could be merited in order to give the economy momentum.

By Reuters

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Published: Mon 29 Jan 2018, 10:00 PM

Last updated: Tue 30 Jan 2018, 12:38 AM

India on Monday forecast its economic growth would accelerate between 7 and 7.5 per cent in the 2018-19 fiscal year, to once again become the world's fastest-growing major economy.
The government's economic survey, presented to parliament on Monday, shows that though the plan has been to reduce the fiscal deficit from an estimated 3.2 per cent this year to 3 per cent in 2018-19, a pause in the move towards a lower deficit could be merited in order to give the economy momentum.
The survey, an annual report the health of the economy, was released ahead of the government's budget statement, due to be presented by Finance Minister Arun Jaitley on Thursday.


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