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Indian economy to grow 7.8% in first quarter of financial year 2016-17

Recovery in the Indian economy is likely to continue and the GDP growth is expected to be higher at 7.8 per cent in the current fiscal, although it will be “uneven”, propped largely by “strong consumption” and public expenditure, says a Development Bank of Singapore report.
•    According to the global financial services firm, doubts remain however on the underlying inconsistencies in the GDP numbers. 
•    For the 2015-16 fiscal, the GDP growth has been pegged at 7.6 per cent.
•    “We expect growth to gain momentum in 2016-17 fiscal, with headline real GDP up at 7.8 per cent,” DBS said in a research note.
•    Though the January-March growth fared better than expected on real GDP and gross value added (GVA) basis, it “masked” underlying weakness in fixed investments and non-agricultural growth, the report added.

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