GDP Data Shows Sings of ‘Vikas’
The latest GDP figures in India shows an increase in investment demand has definite signs of improvement over the previous quarter indicating that the policy and reform initiatives taken by the government are bearing results on the ground. We expect further improvement of the key levers of the economy, going forward, as the government steps up public investment which in the process crowds in private investment to rekindle a new demand cycle in the economy. We are hopeful that consumption demand would pick up pace in the coming time.
Commenting on the fourth quarter GDP growth figures, Mr Chandrajit Banerjee, Director General, CII said that “The figures reconfirm CII’s own assessment that the economy is showing signs of recovery which could gather pace in the next fiscal. The GDP numbers for the fourth quarter show a rebound in growth as compared to the previous quarter on the back of improved performance of the mining and manufacturing sectors as well as trade. Similarly, the GDP figures for 2014-15 compare favourably with the previous year even while marginally undershooting the advance estimates of GDP released earlier this year.”