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India to witness faster growth in 2018-19: Deloitte

IANS  |  New Delhi 

Increased spending and a revival in rural demand are likely to drive India's growth in the coming fiscal, according to a report by Britain-based advisory multinational

Deloitte's Voice of report, released on Wednesday, expects faster than expected growth for Indian against the backdrop of increasing crude oil prices, trade protectionism posing major challengeand volatile market conditions.

"The improvement in domestic conditions is a positive sign that growth is picking up and will continue to maintain strong momentum in 2018, retaining India's position as the 'fastest growing large economy' in the world," a statement said here.

The report said the negative effects of reforms like GST and demonetisation are receding and there is high optimism in domestic demand in the form of consumption and revival in small scale business, resulting in increased foreign direct investment (FDI) flows into

"After a year of disruptions and growth slowdown, Indian is consolidating the gains from the recent reforms and is moving in the right direction," Lead Economist said in a statement.

"With a steady increase in FDI inflows and pick-up in growth in the Q3 of 2017, 2018 will expectedly remain a period of strong growth for with a growth rate of around 6.8 - 6.9 per cent," he added.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 14 2018. 17:34 IST