MUMBAI (Reuters) - India's annual economic growth accelerated to a slightly stronger-than-expected 7.4 percent in the three months through September from 7.0 percent in the previous quarter, government data showed on Monday.
COMMENTARY
A. PRASANNA, ECONOMIST, ICICI SECURITIES PRIMARY DEALERSHIP, MUMBAI
"The number is along expected lines. The economy has bottomed out, but the recovery continues to be quite protracted and patchy.
"We expect full year GVA (gross value added) growth at 7.3 percent. We expect a gradual recovery in 2016/17 in the average of 7.5-8.0 percent on the back of higher consumption growth.
"As far as monetary policy is concerned, we expect RBI to continue to remain accommodative, and a further rate cut will be dependant upon government's fiscal road map and evolution of inflation in months ahead."
ASHUTOSH DATAR, ECONOMIST, IIFL INSTITUTIONAL EQUITIES, MUMBAI
"It's neither a positive surprise nor a negative surprise. Growth is tracking as per RBI's trajectory of between 7 percent to 7.5 percent for the full year. That's where the consensus number is.
"In that sense it's neither an alarming signal nor a sign that we're growing faster than estimated, so there is need to be cautious on rate cuts. It doesn't change anything. No change expected tomorrow (from the RBI)."
(Reporting by Karen Rebelo in Mumbai)
