Stating that the economy is on an “uptrend”, industry body Ficci on Friday said the March quarter GDP growth at 7.7 per cent gives an “optimistic picture”. It said that India’s growth scenario is set to improve further going ahead and the GDP is expected to grow at 7.5 per cent in the current fiscal.
However, the chamber cautioned that one will have to be watchful about the movement in the oil prices in the global market as well as the pace at which the health of the domestic banking sector improves.
It said the gross domestic product (GDP) growth of 7.7 per cent recorded in the fourth quarter of 2017-18 clearly shows that Indian economy is on an uptrend.
“The GDP growth data released yesterday presents an optimistic picture of the economy, reflected in y-o-y growth for Q4, especially for construction and manufacturing sectors,” Ficci President Rashesh Shah said.
“We hope that the government will continue investing in infrastructure to accelerate the pace of growth even further,” he added.