Economic Affairs Secretary Shaktikanta Das has expressed his hopes that India will clock a GDP growth of nearly 8 per cent this fiscal on the back of good monsoon rain. He has said that last year the country achieved the growth of 7.6 per cent on the back of failure of two monsoons, but this year monsoon rains have been good and India is projected to see a growth of nearly 8 per cent for the ongoing fiscal year driven by the progress of monsoon rains.
Das said that Agriculture production is expected to be much better than previous two years as good rains have the potential to boost agricultural-sector growth and this will contribute significantly to the GDP. He added that the impact of the Narendra Modi government's reforms is beginning to be felt now, taking India closer to eight per cent growth this fiscal.
Das further said that large number of structural reforms have been undertaken by the government in the last two year. The impact of that is beginning to be felt and all these things put together will better growth of last year and perhaps get closer to 8 per cent. he further said that adding to the reforms, this year's Union Budget has also been very well received by all sectors.