Fitch Ratings and HSBC both forecast India GDP growth will be 8.3% in 2016-2017

Rating agency Fitch has forecast India’s gross domestic product (GDP) to grow at 8 per cent in 2015-16 and 8.3 per cent in 2016-17, based on the new data series. The forecasts according to the earlier series were 6.5 per cent and 6.8 per cent, respectively.

Stars are “gradually aligning” for the Indian economy and it is expected to clock a growth rate of 7.4 per cent in the current financial year, which is likely to improve further to 8.3 per cent by 2016-17, says an HSBC report.

SOURCES – Business Standard, Economic Times