RBI Survey Projects India’s Economic Growth Rate at 7.9 % For 2015-16

08 April, Mumbai

A survey sponsored by the Reserve Bank has projected the economic growth rate at 7.9 per cent for the current fiscal, up from 7.5 per cent in 2014-15.

The RBI’s Professional Forecasters on Macroeconomic Indicators said that in 2015-16, Gross Value Added at basic price is expected to increase by 7.9 per cent, led by growth in ‘Services’ by 10.1 per cent.

The government expects the economy to grow by 8 to 8.5 per cent in the current fiscal. Yesterday, RBI has projected growth for 2015-16 as 7.8 per cent in its monetary policy assuming steady financial situation and normal monsoon.

Another survey released by the RBI said the Consumer Confidence Survey reflects improvement in terms of Current Situation Index and Future Expectations Index.

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