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India to remain world’s fastest growing economy

India is all set to hold its ranking amongst the world’s fastest growing large economy in the quarter through March.

This has given Prime Minister Narendra Modi, another reason to celebrate after completing his two years in office last week.

Despite shrinking exports and a dearth of private investments, his policies like cooling inflation and lower interest rate became successful as they boosted consumer demand.

narendra_modi

PM Narendra Modi

The Central Statistics Office (CSO) is likely to release India’s gross domestic product (GDP) growth on Tuesday for the year 2015-2016.

According to the advanced estimates released in February, the CSO forecasted that India’s GDP growth would grow at a 7.5% in 2015-2016 which is faster as compared to the previous year’s growth 7.3% .

The latest GDP data will also show the impact of the two successive years of drought on farm income.

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