12 Jun 2017
World Bank: India +7,2% growth
The World Bank is forecasting a recovery for India to 7.2% growth in FY18 as evidence of benefits from what has turned into 'remonetization' starts to feed through. Early evidence shows a dramatic jump in the number of digital transactions; debit card transactions have jumped by a factor of ten over a twelve-month period. Some effects of the move towards implementation of GST on July 1st are appearing: retailers are offering up to 40% discounts in order to shift inventory in advance. Agreement by the GST Council on applicable rates for GST seems to have inspired foreign investor sentiment as FPIs invested a net $4.2bn in Indian debt and equity markets in May.
Posted by #richardneve at 6/12/2017