After 7.7% Q4 GDP jump, Centre retains 7.5% FY19 growth projection; here is why
Saying that the GDP data indicated a turnaround in manufacturing and construction activity, Economic Affairs Secretary Subhash Chandra Garg told reporters, "I don't think we are revising our forecast for the current year 2018-19 which was indicated at 7.5 per cent. We retain it at this moment at this level. There has been some downward revision by Moody's and others taking oil prices into consideration, but there is no one to one relation between oil price and GDP growth."
Finance Minister Piyush Goyal said the 7.7 per cent GDP growth in the fourth quarter of 2017-18 showed that the economy was on right track for higher growth in the future. Image source: IANS