Nomura report hopeful for Indian GDP growth in 2016-17
As per a report from
Nomura, which is a Japanese financial services major, said that the pick up would be because of higher discretionary demand on Pay Commission wage hike, low inflation, high corporate profitability, ongoing implementation of public capex and an accommodative monetary policy stance.
"In our base case, we expect GDP growth (at markprices) to pick up to 7.8 per cent in FY17 from 7.6 per cent in FY16," said the research note from Nomura.
"We expect the Reserve Bank of India to deliver a 25 bps rate cut in April to support growth, as the government has stuck to its fiscal consolidation targets," Nomura said.
On February 2, RBI Governor