India's GDP growth in Q4 of FY18 seen at 7.4%, says Icra
Updated : May 21, 2018 03:53 PM IST
The Central Statistics Office (CSO) is scheduled to come out with GDP estimate for the fourth quarter (Q4) of fiscal 2017-18 and provisional annual estimates for the year 2017-18 on May 31.
As per Icra, the growth of the Indian gross value added (GVA) at basic prices in year-on-year (YoY) terms is likely to record a considerable recovery to 7.3% in Q4 FY2018 from 6.7% in Q3 FY2018, thereby rebounding above 7% after a gap of five quarters.
The rating agency further said it expects a mild pickup in growth in the services sector, reflecting the improvement in diesel and petrol consumption, service sector exports, passengers carried by domestic airlines, cargo handled at major ports and railway revenue carrying freight.