\n
The US-based agency, however, termed the 7 per cent GDP growth<\/a> for the October-December quarter as \"surprising\", a tad lower than 7.4 per cent in the previous quarter.
\n
\"This number looks somewhat surprising, as real activity data released since demonetisation<\/a> pointed to weak consumption and services activity because these transactions are cash-intensive. By contrast, official data suggest that private consumption was strong in the fourth quarter of 2016 (though services output growth moderated quite substantially),\" Fitch said.
\n
Fitch expects Indian GDP<\/a> to grow by 7.1 per cent for 2016-17, before picking up to 7.7 per cent in both 2017-18 and 2018-19.
\n
\nIt said the December quarter GDP number suggests that economic activity was \"hardly hit\" by the cash crunch after the government's move to remove 86 per cent of currency in circulation overnight.
\n
\nOn this discrepancy, Fitch said it could be the inability of official data to capture the negative effects of the demonetisation on the informal sector.
\n
\nHowever, the formal sector remained surprisingly robust.
\n
\n\"This raises the possibility that these initial estimates of the growth impact of demonetisation could well be underestimated, with the possibility of revisions to official GDP data later on,\" it said.
\n
\n\"Gradual implementation of the structural reform agenda is expected to contribute to higher growth, as will higher real disposable income, supported by an almost 24 per cent hike in civil servants' wages at the state level,\" Fitch said.
\n
Fitch projection of growth for this fiscal is in line with the estimates of CSO and global think-tank OECD<\/a>.
\n
The rating agency said it expects the policy<\/a> interest rate to stay at its current level of 6.25 per cent. <\/span>\n\n<\/body>","next_sibling":[{"msid":57508490,"title":"You can now get the iPhone 7 for as low as Rs 35,200: Here's how!","entity_type":"ARTICLE","link":"\/news\/you-can-now-get-the-iphone-7-for-as-low-as-rs-35200-heres-how\/57508490","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":57509289,"entity_type":"ARTICLE","title":"Indian economy to grow 7.1% in this fiscal; Dec quarter GDP numbers surprising: Fitch","synopsis":"Fitch projection of growth for this fiscal is in line with the estimates of CSO and global think-tank OECD.","titleseo":"telecomnews\/indian-economy-to-grow-7-1-in-this-fiscal-dec-quarter-gdp-numbers-surprising-fitch","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2017-03-07 11:36:58","lastupd":"2017-03-07 11:37:23","breadcrumbTags":["gdp","policy","indian economy","GDP growth","OECD","demonetisation"],"secinfo":{"seolocation":"telecomnews\/indian-economy-to-grow-7-1-in-this-fiscal-dec-quarter-gdp-numbers-surprising-fitch"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2017-03-07" data-index="article_1">
新德里:全球评级机构惠誉今天说印度经济将增长7.1%在当前财政加大到7.7%在接下来的两年金融。
然而,美国机构称为7%国内生产总值增长为“令人惊讶的”,去年第四季度略低于第一季度的7.4%。
“这个数字看起来有点奇怪的,因为真正的活动以来公布的数据demonetisation指出,疲弱的消费和服务活动,因为这些交易是cash-intensive。相比之下,官方数据显示,2016年第四季度私人消费强劲(尽管服务产出增长放缓相当),"惠誉称。
惠誉预计,印度国内生产总值增长7.1% 2016 - 17日之前捡到7.7%在2017 - 18 - 2018 - 19所示。
说12月当季GDP数字表明,经济活动是“沉重打击”的现金危机之后,政府的举措一夜之间消除86%的流通中的货币。
这种差异,惠誉表示这可能是官方数据无法捕捉的负面影响demonetisation非正规部门。
然而,正式部门仍意外强劲。
“这就提出了一个可能性,这些初步估计的增长影响demonetisation很可能被低估,与官方GDP数据修正后的可能性,”它说。
“逐步实施结构性改革议程将导致更高的增长,将更高的实际可支配收入,支持上调了近24%公务员的工资在州一级,”惠誉说。
惠誉投影财政的增长符合方案的估计,全球智库经济合作与发展组织。
这家评级机构表示,它预计政策利率保持在目前的6.25%。
然而,美国机构称为7%国内生产总值增长为“令人惊讶的”,去年第四季度略低于第一季度的7.4%。
“这个数字看起来有点奇怪的,因为真正的活动以来公布的数据demonetisation指出,疲弱的消费和服务活动,因为这些交易是cash-intensive。相比之下,官方数据显示,2016年第四季度私人消费强劲(尽管服务产出增长放缓相当),"惠誉称。
惠誉预计,印度国内生产总值增长7.1% 2016 - 17日之前捡到7.7%在2017 - 18 - 2018 - 19所示。
说12月当季GDP数字表明,经济活动是“沉重打击”的现金危机之后,政府的举措一夜之间消除86%的流通中的货币。
这种差异,惠誉表示这可能是官方数据无法捕捉的负面影响demonetisation非正规部门。
然而,正式部门仍意外强劲。
“这就提出了一个可能性,这些初步估计的增长影响demonetisation很可能被低估,与官方GDP数据修正后的可能性,”它说。
“逐步实施结构性改革议程将导致更高的增长,将更高的实际可支配收入,支持上调了近24%公务员的工资在州一级,”惠誉说。
惠誉投影财政的增长符合方案的估计,全球智库经济合作与发展组织。
这家评级机构表示,它预计政策利率保持在目前的6.25%。
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