S&P pegs India's GDP growth at 8% in coming two years
International credit rating agency Standard & Poor's (S&P) has optimistically pegged India’s GDP growth at about 8% in the next two years.
"Growth quality in India continues to improve and we forecast its GDP expanding by about 8% in fiscal year 2017 and 2018," said "APAC Economic Snapshots--July 2016," from S&P.
This rate is way above the forecasts done by other international agencies, including IMF’s 7.4% growth forecast.
However, there is a note to this growth, asking India to include a good selection of
"That view is predicated on the steady, ongoing structural reform push, including GST passage, a good monsoon season this year, and a wise choice to head the Reserve Bank," S&P said.