GDP growth may slow down to 6.5% in FY18
NEW DELHI: The Indian economy is forecast to grow at its slowest in four years in FY18 but is expected to pick up pace in the second half of the year. GDP is seen growing 6.5% in FY18, down from 7.1% last year, according to the first advance estimates released by the statistics office on Friday. Gross value added (GVA) growth is forecast at 6.1% against 6.6% last year. In the first half, GDP growth was only 6% because of the disruption caused by the goods and services tax (GST) and the lingering impact of demonetisation. "GDP growth of 6.5% for 2017-18 implies growth of 7% for the second half," economic affairs secretary Subhash Chandra Garg tweeted. "Confirms strong turnaround of economy. Investment growth of almost twice of last year's indicate investment reviving." Chief statistician TCA Anant echoed those sentiments. "Effectively, we are calculating the H2 growth in the economy at around 7%... maintain the trend of increasing growth." He adde