Global ratings agency Moody’s Investors Service estimates India’s economic growth at 7.5 per cent in both 2016 and 2017, as it expects actions by policymakers to lift the country’s economic growth.
“India is relatively less exposed to external factors, including China slowdown and global capital flows. Instead, the economic outlook will be primarily determined by domestic factors,” a new report said.
“The 23.55 per cent increase in public sector salaries proposed by the 7th Pay Commission is worth 0.7 per cent of gross domestic product (GDP). It is not yet known how this proposal will be implemented but higher public sector wages will most likely contribute to strong consumption growth,” it said.
India’s $2 trillion economy is growing fast but not creating enough jobs to employ an expanding workforce.…The BRICS Post
India’s GDP to grow at 7.5% in 2016: Moody’s
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