A number of economic indexes have shown signs of recovery of the Indian economy which was struggling with the after-effects of demonetisation as well as nationwide transformatory GST implementation.
At this time around, the government needs to gear in public expenditure and also increase job creation. Other issues that need to be addressed to further gain traction are to resolve the bank's ballooning NPA crisis that hinders their capacity of financing and hence providing stimulus to the economy.The current economic climate has been favourable in quiet some months now, as across the board the measures have gained in momentum be it the CPI that remained stable, WPI that inched lower and is way below the RBI's target of 4% for the current fiscal year. IIP production also as against the previous trend has also gained spree much due to the increased demand after demand doomed just after the implementation of GST.
The exports also saw an uptick. Also as per the latest report by the Development Bank of Singapore, India's foreign exchange that bottomed out to lowest levels in 2013 during the reversing of stimulus by the US economy has sharply rebounded and are now enough to cushion the economy against external vulnerabilities.
So, the indication across the board boast of an uptick with better GDP growth rates in the coming quarters.
As reported in the PTI, Rajiv Kumar, vice-chairman of federal policy think tank NITI Aayog, said the economic slowdown that began in 2013-14 has bottomed out and that gross domestic product (GDP) is likely to grow 6.9-7% in the current financial year and by 7.5% in 2018-19,