Indian Economy Lost Momentum In April-June Quarter: Poll

Posted By: Staff
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A Reuters poll has said that India's economic growth likely lost some momentum in the April-June quarter on cutbacks in domestic and global demand.

Indian Economy Lost Momentum In April-June Quarter: Poll
The poll also found that economists expected the newly-passed goods and services tax to take time to have an impact on gross domestic product growth.

For April-June, the median forecast of 40 economists was for GDP growth of 7.6 per cent from a year ago, slower than the 7.9 per cent in the previous quarter.

The slower pace would still be rapid, by any standard. China reported 6.7 per cent annual growth for April-June, and the Philippines posted 7.0 per cent.

As per reports, the latest reform from the government, the goods and services tax, should transform the country into a common market and is widely expected to add up to two per centage points to the GDP growth pace after implementation.

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