H2FY18 GDP growth should be better: Experts

Gross domestic product is now estimated to grow an annual 6.5% in FY18

India lowered its forecast for the current year's economic growth on Friday before a federal budget is released next month, as businesses were hit by the chaotic launch of new nationwide tax last July.

Gross domestic product is now estimated to grow an annual 6.5% in 2017/18, slower than a provisional 7.1% growth in 2016/17, Ministry of Statistics said in a statement.

Most private economists had pared the growth forecast to 6.2 to 6.5% for this fiscal year, citing the teething troubles faced by businesses during the roll out of a goods and services tax (GST).

Ashima Goyal, Member, PM-EAC