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 RBI governor, to be able to achieve this growth rate.

"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.

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