With a 7.6% increase in the economy since the beginning of the year, the South Asian country is the largest economy in the world
Lower oil prices, recent cuts in interest rates by Reserve Bank of India, as well as the monsoon this year reviving rural agriculture have boosted the Indian economy by 7.6% in 2016 only.
Nevertheless, two month ago, exports dropped considerably for the seventeenth month in a row, while weakening the manufacturing sector. The private investments sector is also behind with progress, while capital spendings focus on projects supported by the government, such as roads, telecom, and fertilisers, despite industrial production remaining behind expectations.
Still, when compared to the accelerated economies of other countries, India’s industrial output is weaker than indicated by the figures showing the country’s 2015 GDP.
“Another set of remarkably strong GDP data will do little to dispel doubts about the quality of the official national accounts numbers,” Shilan Shah, from Capital Economics, declared for CNN, while taking into account the accuracy of the data released.
