At 7.2%, India to stay fastest growing economy
NEW DELHI: In some welcome news for a government heading into national polls in a few months, the Central Statistics Office on Monday forecast that the economy will grow 7.2% in 2018-19, faster than the previous year’s 6.7% expansion.
The estimate is a shade lower than the RBI’s, which expects the economy to grow 7.4% in the current fiscal year that ends in March.
The forecast will help India keep the fastest growing economy tag as growth in China is expected to slow.
“Very healthy advance GDP growth numbers for 2018-19. India remains fastest growing major economy globally,” said economic affairs secretary S C Garg.
经济事务秘书S C Garg称：“印度2018-19财年的GDP增长数据非常稳健，我们仍然是全球增长最快的主要经济体。”
The manufacturing sector is estimated to grow by 8.3% in 2018-19, faster than the previous year’s 5.7% while farm sector is set to grow by 3.8% compared with 3.4% in 2017-18. Construction is expected to show signs of a turnaround growing by an annual 8.9% compared with 5.7% expansion in the previous year.
“Revival in private investment is critical to sustaining the upswing in overall investments. Improvement in private consumption demand and a stable election outcome will play an important role in that,” said D K Joshi, chief economist at ratings agency Crisil.
信用评级机构Crisil的首席经济学家D K Joshi称：“私人投资的复苏对于维持总体投资的增长至关重要。个人消费需求的改善和选举结果的稳定将在这方面发挥重要作用”。
“Private consumption was a sore spot with its growth slipping a new to 6.4% from 6.6% as farm incomes and rural wage growth remained weak. Real agriculture GDP growth was strong at 3.8% but nominal growth fell to 3.8% from 4.5% suggesting farmers are realising less from their produce,” he added.
Economists said on the consumption side, the FY15-FY19 private final consumption expenditure average growth of 6.8% is 40 basis points higher than the previous 5 year average.
译文来源：三泰虎 http://www.santaihu.com/46834.html 译者：Jessica.Wu
Indian Abroad - 6 hours ago -Follow
World economy is supposed to slow in 2019-20 so 7.2% growth would be a great accomplishment for India. However, this will require a very stable govt at the center led by a very capable PM and of course a lot of hard work from citizens.
Sunil K Mehrotra - LUCKNOW - 4 hours ago -Follow
Modi Govt deserves felicitation and congratulations for this achievement.
shashank bhide - Boston - 6 hours ago -Follow
Reduce the number of mouths we''ve to feed and we''ll become USA.
Narendra - HINDUstan - 3 hours ago -Follow
This is a Tight slap on ISIS Led Congress face and @$$ and Of course Dhruv Tattee.
Sanjoy Pandey - 3 hours ago -Follow
It is really challenging to remain fastest growing economy in the world year after year.
Maverick - New Delhi - 3 hours ago -Follow
For Congress & Allys this is not true.
Manoj Cpas - 3 hours ago -Follow
Really? As per congress party, Modi government sunk the indian economy. Liar Fake Congressies.
G Singh - PUNJAB, INDIA - 6 hours ago -Follow
BUNCH OF LIES .... It will remain the DIRTIEST 4th WORLD DUNGEON for 100 more years. Billion of hungry mouths, no water, no jobs, no healthcare, no education, rapists/criminals and a PURE HELL to live in.
azbz969 - Location - 1 hour ago -Follow
Jai Jai Modiji
Sushant Sinha - 2 hours ago -Follow
Wow !! India is on positive way
Jumla Expert - 5 hours ago -Follow
What does fastest growing mean. US Economy is 7 times the size of India. Even if US grows at 2% and India grows at 8%, in Dollar terms, US adds more to its GDP than India. Ditto for China. A Third World ultra poor Shythole like India should grow at least at Double Digit like China did for last three decades
Mitesh - 1 hour ago -Follow
now pappu will challenge these numbers as well!!