Economy likely to grow at 7.6 per cent in 2016-17: NCAER

Economic think-tank NCAER has pegged India’s GDP growth at 7.6% for 2016-17, following a pick-up in rural demand and “positive signals” on the manufacturing front. The manufacturing sector is giving positive signals with Purchasers’ Managers Index, Index of Industrial Production for core sectors. According to NCAER, the anticipated improvement in the agricultural sector and the associated increase in rural demand

will give an upward push to economic growth.

iv. The Monetary Policy Committee has also forecasted a 7.6% growth.

About NCAER:

♦ The National Council of Applied Economic Research (NCAER) is one of India’s oldest economic think-tank set up in 1956.

♦ Headquarters: New Delhi

Economy likely to grow at 7.6 per cent in 2016-17: NCAER