Expects anticipated pick-up in investment cycle could materially happen more towards end of Q3 FY15
The economic research department of the State Bank of India (SBI) has revised its forecast for FY15 GDP to 5.78% with optimism based on a stronger manufacturing growth, led by a modest investment revival propelled by an earlier than anticipated jump in discretionary consumer spending.It expects agriculture to post a modest 1% growth (against 4.7% in FY14), industry at 4.4% (against 0.4% in FY14) and services at 7.5% (against 6.8% in FY14).
As per the SBI, the widely anticipated pick-up in investment cycle could materially happen more towards end of Q3 FY15.
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