The latest survey conducted by an apex industry body, Ficci, projects Indian’s GDP to grow by 7.4 per cent for the fiscal year 2017-18, with a minimum and maximum level of 7.0 per cent and 7.6 per cent respectively.
The Ficci’s “Economic Outlook Survey” conducted during March and April 2017, further breaks down the estimation for Agriculture sector to clock 3.5 per cent growth and Industry and Services sectors to grow at 6.9 per cent and 8.4 per cent respectively.
The survey has also projected that Consumer Price Index has a median forecast of 4.8 per cent for 2017-18 with a minimum and maximum level of 4.0 per cent and 5.3 per cent respectively.
The Economic Outlook Survey was conducted amongst economists belonging to the industry, banking and financial services sector, Bureaucracy Today has learnt.
The respondents were asked to opine on how they see this development unfolding and what steps should India take to minimize the impact resulting from such moves.
Participating economists were of the view that strengthening the domestic economy, in terms of sustainable macroeconomic stability, enhancing skills among youth and the workforce and continuing on the reform path will help India maneuver the rough patches, Ficci said.
It was also suggested that India should look at signing preferential trade agreements with other emerging market economies, it added.