To take your ideas to Policymakers, Join the Campaign of #PolicyPulse Write to feedback@policypulse.com

‘Expect 8 per cent GDP growth in FY17’

Shaktikanta Das Economic Affairs Secretary predicted financial growth on back of good monsoon

Policy Pulse
Publish Date: Aug 28 2016 11:10AM | Updated Date: Aug 28 2016 11:10AM

‘Expect 8 per cent GDP growth in FY17’

Shaktikanta Das Economic Affairs Secretary

 

India is expected to get a good GDP growth which will go nearly 8 per cent this fiscal year. The growth is highly supported by the good monsoon rains, say Economic Affairs Secretary Shaktikanta Das. 

 

Comparing from last year, he said, "Last fiscal year, we achieved 7.6 per cent growth and the failure of two monsoons is the reason. This year monsoon rains have been good and opportunities are pouring in various sectors.”

 

"Agriculture production is expected to be much better than previous two years and definitely agriculture will contribute significantly to the GDP," Das said on the sideline of a conference on 'International Arbitration in BRICS: Challenges, Opportunities and Road ahead'. 

 

Besides, he said, the Budget has been well received by all the sectors of the economy. "Large numbers of structural reforms have been undertaken by the government in the last two year. The impact of that is beginning to be felt.”

 

“All these things put together, we are hoping for a better growth as compare to last year and perhaps it will get closer to 8 per cent," he said.