Standard and Poor’s global rating has projected that India’s economy will grow 6.5 percent in the current fiscal year and 6.7 percent in the next financial year. It said that expected tax cuts and monetary policy easing will give a boost to consumption-driven growth.

 

 

India’s real GDP is estimated to have expanded at 7.8 percent in the April-June quarter of the current fiscal, the fastest pace in five quarters. The Reserve Bank of India has forecast GDP growth at 6.8 percent for the year, higher than the 6.5 percent recorded in the previous fiscal year.

 

 

S&P said that a potential India-US trade agreement could significantly reduce uncertainty and boost investor confidence, particularly benefiting labour-intensive sectors by improving market access and stability.