India's economy seen growing at steady 7.6% pace in April-June - Reuters poll

According to the latest Reuters poll of economists, India’s economy is expected to have expanded by 7.6% in the April-June quarter, in light of an improvement in the manufacturing and exports sector.

Key Findings:

“The median consensus in a poll of 50 economists put annual economic growth just a touch lower than the near two-year high of 7.7 percent in the January-March quarter.

Forecasts for the $2.59 trillion economy ranged between 7.0 and 8.0 percent.

The poll results suggest domestic demand was strong, driven primarily by manufacturing activity that remained solid despite elevated oil prices and a weakening Indian rupee.

If the median prediction for the April-June quarter proves correct, it was will be the third period in a row with 7 percent or higher growth.

India’s fiscal deficit widened in the April-June quarter to 68.7 percent of the budgeted target for this fiscal year, a concern but an improvement 80.8 percent for the same period of 2017.”