Economic growth

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  India’s GDP is expcted to grow at 7.2% this year after ending at mere 6.7% growth in the last fiscal year which was effected by the double whammy of “demonetization” and “Introduction of GST”. The manufacturing and construction sector is expected to pick up at a pace of around 9% growth after strangling at 6% last year. But the Central Statistics Office (CSO) is being pessimistic regarding the growth in the second half of this fiscal year. Investment spending, which has always been the aiding factor for economic growth might also be stagnant with the elections around the corner. All the hefty investments will hold back as there is an uncertainity of the  power at the centre and hence the rules imposed thereafter. The government, in an attempt to boost economic growth may dwelve into over spending on populist schemes. But it should be strictly avoided as the government has already exceeded fiscal deficit by 15%, and any further increase could only bring negative consequences to the economy.

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