World's leading provider of independent credit ratings, Standard & Poor's (S&P) Global Ratings, in its latest report titled ‘APAC Economic Snapshots--September 2016’ projected that India will clock a steroid-free growth of 8% over the next few years, backed by broadening of domestic consumption base. The report stated that India’s structural reform agenda has maintained strong momentum and should propel growth higher.
S&P said that country's structural reform agenda has maintained strong momentum, most recently with the Goods and Services Tax (GST) passage, and should propel growth higher. It also said that inflation remains a risk, given the large weights on food, fuel, and other volatile items in the Reserve Bank of India's (RBI) target basket.
The latest gross domestic production (GDP) data showed that India's growth slowed to 7.1% in the April-June quarter, from 7.9% in January-March period. Besides, RBI too has said that the near-term growth outlook for India seems brighter than last fiscal and the economy is likely to expand at 7.6% in 2016-17.
