Question

expected GDP growth of around 6.8 percent in the fiscal year ( ending in March 2012) in down from 8.5 persent in the previous fiscal year and from 9 - 9.5 person in 2005 to 2008

Answer 1

India’s economy is forecast to expand at a faster pace in the full year to March although gross domestic product (GDP) growth slowed in the fiscal third quarter.

Data released by the Central Statistics Office projected a growth of 7.6% in 2015-16 against the government’s more modest expectation of 7-7.5% growth. This despite growth decelerating to 7.3% in the quarter ended December from 7.7% in the previous quarter.

Manufacturing, presumably buoyed by a significant fall in inputs costs following the collapse of global commodity prices, registered a sharp pickup in the third quarter.

The latest GDP numbers will be a crucial input to the Union budget that will be presented on 29 February by finance minister Arun Jaitley.

Nominal GDP is estimated to grow 8.6% in the full year to March. India is now just shy of becoming a $2 trillion economy in 2015-16, with the size of the GDP standing at $1.99 trillion at the current rupee-dollar exchange rate of 67.94.