Revised Estimate of GDP for 2015-16 show that economy grew 7.9% in 2015-16, rather than 7.6 per cent
A V-shaped recovery is expected to take hold in the second half of 2017
Earlier today, the Economic Survey fixed the country's economic growth at 6.5%
However, the figure for 2014-15 has remained unchanged at 7.2% in the second revision
Chinese growth to remain at around the 6% mark
Moreover, refinancing needs are manageable for most corporates in 2017
GDP growth this financial year is expected to witness a decline due to demonetisation of 500 and 1000 rupee notes, but the range varies from 0.5-2%
Q1 growth in the current fiscal was driven largely by an 18% rise govt consumption, a pace that may not be achieved on a sustained basis
Agri, Construction, Mining Play Spoilsport, Capital formation contracts 3.1%
Paucity of data on expenditure side seen as a factor
The economy grew 7.9% in the fourth quarter of 2015-16 taking overall GDP growth for FY16 to a five-year high of 7.6%
The Finance Minister Jaitley asserted these are not "stray figures" and an analysis shows inherent strength in the economy
But investment numbers are still a worry
Services sector is expected to compensate for subpar industry growth and weak farm output amid subpar rains and warmer than usual heat
The report also said govt's Rs 20,000 cr plan to connect 250,000 panchayats with broadband by 2018 is 3 years behind schedule
Reports says agriculture output could surprise positively despite second year of inadequate rainfal
As per advanced estimates by the government released in February, India's GDP is estimated to have grown at 7.6% in fiscal 2016
But lower growth numbers in the quarters to come may not mean renewed weakness in the economy at the ground level
For the government to eradicate poverty by 2032, India will need to grow at 10% nominal GDP, but this will involve radical reform instead of incremental reforms