Sources from Davos have stated that top banker Chanda Kochhar said that the Indian economy is seeing broad- based improvement across all sectors and should clock 7% growth in the second half of the current fiscal. Meanwhile she was here to participate in the World Economic Forum's (WEF) annual meeting, to be addressed by Prime Minister Narendra Modi and other world leaders, the ICICI Bank chief said the full fiscal GDP growth for 2017-18 should also be in excess of 6.5%.
She said the CSO has estimated 6.5% GDP growth and 6.1% gross value add (GVA) growth in the current financial year ending March 31. Moreover Given that GDP growth in the first half was 6% this estimate already indicates a robust positive momentum in growth to 7% in the second half of the financial year. High frequency indicators are already showing signs of improvement.
Moreover the eminent banker also said that in the last four years, India
has taken a comprehensive approach and worked on multiple fronts, including
economic, social and institutional reforms that will yield dividends in the
long run and ensure a sustainable high growth path.
