Economy headed for consolidation: RBI survey

Retail inflation is expected to gradually rise to five per cent by the fourth quarter of 2017-18

The economy will gradually consolidate growth in the current financial year, predicted 28 forecasters surveyed by the Reserve Bank of India.
 
According to the survey result posted on the RBI website, real GDP (gross domestic product) and real GVA (gross value added) are expected to grow by 7.4 per cent and 7.2 per cent, respectively, in 2017-18 and consolidate further by 40 basis points (bps) and 50 bps, respectively, in the following year.
 
The RBI has been conducting the Survey of Professional Forecasters (SPF) since September 2007 and the latest (46th round) was conducted during May 2017. According