India forecasts GDP growth of at least 7 per cent

New Delhi, Jumada I 17, 1437, Feb 26, 2016, SPA — The Indian economy is expected to grow by 7 to 7.5 per cent in the financial year 2016-17, dpa cited the annual Economic Survey as presenting Friday.
The survey takes a broad look at key economic indicators and is the basis for the annual budget, which is scheduled to be introduced in parliament Monday by the Finance Ministry.
India is likely to be the fastest-growing major economy in the world in 2016, the survey said, estimating GDP growth would be around 7.6 per cent for the financial year 2015-16.
India’s fiscal year runs from April to March.
Robust performance was attributed to regulatory reforms, liberalizing foreign direct investment and power sector reforms, the survey said.
The Finance Ministry’s survey put long-term growth potential of the Indian economy at 8-10 per cent annually.

–SPA
11:38 LOCAL TIME 08:38 GMT