◆RBI forecasts 5.5% growth for FY 15; but monsoons， geopolitics may play spoilsport
【KOLKATA】The Reserve Bank of India (RBI) has said that the Indian economic growth is poised for a take-off amid signs of economic reforms, fiscal consolidation and projected improvement in investments.
The central bank forecasts the gross domestic product (GDP) to grow around 5.5% in 2014-15 after two painful years of sub-5% growth, its annual report stated. "The Indian economy stands at a crossroads that could take it from a slow bumpy lane to a faster highway," RBI said, in its annual report for 2013-14. RBI's accounting year runs July to June. "With greater political stability and a supportive policy framework, investment could turn around. The economy is poised to make a shift to a higher growth trajectory."
○Expedite reforms to make India $4.5 trillion economy
【New Delhi】The present government's effort to expedite major reforms and their successful implementation could push India's gross domestic product (GDP) to over $4.5 trillion by fiscal 2020, a Dun & Bradstreet report said on the 22nd August.
According to the global business information, knowledge and insight provider, India is likely to achieve an average growth rate of around 7.5 per cent during fiscal 2015-fiscal 2020.
【News source】
RBI forecasts 5.5% growth for FY 15; but monsoons, geopolitics may play spoilsport
'Expedite reforms to make India $4.5 trillion economy'
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