Reuters quotes a source with the knowledge of the matter, saying that an economic survey, due to be announced by India’s Chief Economic Adviser Krishnamurthy Subramanian later on Friday, is likely to project economic growth of 6% to 6.5% in the next Fiscal Year (FY) starting April 1.
Meanwhile, the government has estimated gross domestic product expansion at 5% for the financial year ending on March 31, which would be the slowest pace since the global financial crisis of 2008/09.
The government will present its budget for the next fiscal year on Saturday.
The Indian rupee trades on the front foot ahead of the key announcements, keeping USD/INR under pressure around 71.50 region.
- India: GDP likely grew by 5.0% over 2019 – TD Securities