Workers embellish pieces of fabric during the manufacturing of Lakshmipati Sarees brand garments at the Siddhi Vinayak Knots & Prints Ltd. factory in Surat, Gujarat, India. (Photographer: Karen Dias/Bloomberg)

GDP Growth May Exceed 7.5% This Fiscal, Says Finance Ministry

The Finance Ministry said that the Indian economy’s growth may exceed 7.5 percent in the current fiscal, excited by 8.2 percent GDP growth in the first quarter of 2018-19.

The economy is on a steady growth path, Economic Affairs Secretary SC Garg said.

The robust performance this quarter gives hope that growth could exceed even the estimated 7.5 percent this fiscal, he said. He also said that the fiscal deficit will not exceed 3.3 percent of the GDP in 2018-19.

He said the Indian rupee will range between 68-70 against the U.S. dollar.

Also read: 8.2% GDP Growth In The First Quarter Cements India’s Economic Recovery