India's GDP to grow by 7.1% in FY19, says India Ratings and Research
New Delhi : India Ratings and Research (Ind-Ra) on Thursday predicted that India's gross domestic product (GDP) will grow at 7.1 per cent in FY19.
"Robust consumption demand and tailwinds from low commodity prices have been the key growth drivers over the past few years," said Sunil Kumar Sinha, Principal Economist and Director Public Finance, Ind-Ra.
"While consumption demand is likely to remain a growth driver in FY19 also, tailwinds from low commodity prices are now turning into headwinds."
According to Sinha, on the supply side, all major sectors namely agriculture, industry and services are expected to contribute to FY19 gross value added (GVA) growth.