ProMASS News Bureau: Feb 9, 2016:
Growth in the country’s GDP is forecast to accelerate to 7.6 per cent in the current fiscal, on improved performance in the manufacturing and farm sectors. This will be the fastest rate of growth in the last five years. The Central Statistics Office has also estimated the October to December 2015 quarter GDP growth at 7.3 percent.
The manufacturing sector is forecast to grow at 9.5 per cent in the current fiscal, up from 5.5 per cent a year ago. Agricultural sector growth has been projected at 1.1 per cent, against a decline of 0.2 percent a year ago. Reacting to the GDP data, Economic Affairs Secretary Shaktikanta Das said the policy and reform measures the government has undertaken in the last one-and-a-half years are beginning to show results.
The Finance Ministry today said the projected 7.6 per cent growth rate for current fiscal is satisfactory and is a reflection of the policies and reform measures considered by the government in previous 19 months. Economic Affairs Secretary Shaktikanta Das said to media that the policies and reform initiatives will continue. He was speaking with regard to the advance estimates for national income of 2015-16 fiscal by the Central Statistics Office which today projected the GDP growth rate at 7.6 percent.
