New Delhi. Moody’s estimating the stable growth rate to remain at 7.5 percent for next year in India. The rating agency also expects that GDP will remain at 7.6 percent in 2017. According to the agency, the estimate is enough good from the previous year’s result that was 7.4 percent.
Moody’s said that the steps taken by the central bank, a sense of hope also remains in the banking sector, which must continue to maintain the growth .
In the past decade, India was highest in the world to grow at a rate of 7.7 percent. It was at highest, because a big market made a way out, due to which people have done their savings. While the country’s infrastructure was quite poor and there was no working environment.
Due to this, GDP growth was slowdown in 2012-13 . But in the last two years, the industry has solved a lot of problems. Ease of Doing Business in India has improved significantly. Centre Government has given relaxation in many government norms for business in many sectors. Increasing a limit of FDI in insurance and defense is a good example.
Apart from this investment has been increased in public sectors like Highway and Railway, which is also compensating low volume of investment in the private sector.