Economy crossing 8% GDP growth rate

In view of the additional capital expenditure (capex) by the government in infrastructure projects is all set to push the economy to grow over 8% GDP growth rate in the first quarter of current fiscal, CII said in a statement. Adding that on the back of better monsoon prospects, surge in rural demand and ongoing fast-paced reforms process will further add to the momentum. The first quarter of the current year would show faster growth due to additional capex spending as a result of which the economy has definitely turned around and the industry body strongly expects GDP growth to pick up and cross 8% during the current financial year, President, Naushad Forbes said, reiterating that the recovery is now well-entrenched and can be expected to pick up at a faster pace.

Published: 06 June 2016