Gold Silver Reports ~ Reserve Bank of India(RBI), in its just released results of the Survey of Professional Forecasters on Macroeconomic Indicators, forecasts that India’s output growth, measured using Gross Value Added(GVA)at basic prices, is likely to improve marginally in 2015-16 and further in 2016-17.
Medium~term growth and inflation expectations remained unchanged from the levels indicated in the last round of the survey. The Indian Rupee is expected to remain stable against the US Dollar in the near future.
Quarterly growth projections for the next five quarters indicate that growth is likely to peak in Q2:2016-17. CPI headline inflation is likely to remain below 6.0 per cent till Q3: 2016-17.
Forecasters expect real Gross Value Added at basic price (GVA) to increase by 7.4 per cent in 2015-16. ‘Agriculture & Allied Activities’ and ‘Services’ are expectedgrow by 1.8 per cent and 9.1 per cent, respectively. ‘Industry’ growth forecast has been placed at 6.9 per cent.
In 2016-17, GVA is expected to increase by 7.8 per cent, led by growth in ‘Services’ by 9.3 per cent. ‘Agriculture & Allied Activities’ and ‘Industry’ are expected to grow by 2.7 per cent and 7.2 per cent, respectively. ~ Neal Bhai Reports