According to sources as per the latest report the Indian economy is anticipated to expand at its slowest pace in the four years since the Narendra Modi government took office, as economic activity was hit by the twin blows of demonetization and implementation-related issues of the goods and services tax (GST).
Accordingly the government forecast economic growth slowing to 6.5% in the year to 31 March from 7.1% in the previous year and as per the forecast which was released by the Central Statistics Office (CSO) it is assumed that the economy is on a recovery path. Sources have stated that 6% growth in the economy in the six months ended 30 September, indicating that it will accelerate to 7% in the second half ending 31 March, if the forecast is to come true.
Meanwhile the economic affairs secretary Subhash Chandra Garg said in a
post on Twitter that “GDP growth of 6.5% for 2017-18 implies growth of 7% for
the second half and it confirms strong turnaround of the economy".
