GDP will rebound in range of 6.75-7.5 per cent in FY18: Survey
Central Statistics Office estimated GDP will grow at 7.1 per cent in FY17 that Survey has lowered to 6.5 per cent.
New Delhi: India's economic growth has been pegged at 6.5 per cent for the current fiscal, down from 7.6 per cent recorded in the last financial year, but is expected to rebound in the range of 6.75-7.5 per cent in 2017-18.
The Economic Survey for 2016-17, tabled in the Parliament by Finance Minister Arun Jaitley today, underlined the need for more reforms. The Survey's GDP growth figure for the current fiscal is lower than 7.1 per cent the Central Statistics Office had forecast earlier this month.
The Survey lists some of the challenges that might impede India's progress. These include ambivalence about property rights and the private sector, deficiencies in state capacity, especially in delivering essential services and inefficient redistribution.