It’s going to be a close call. Our view was that there will hike by August by Reserve Bank of India (RBI). So at this point of time, we are varying around to hike in June policy itself, said A Prasanna, Chief Economist at I-Sec PD.
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Prasanna said the number came in stronger than expected, particularly the numbers on manufacturing and construction were quite strong.
"The momentum is quite strong in Q4 and the economy has entered into this financial year on the back of a strong quarter. So therefore, we are quite optimistic,” he added.
The fourth quarter gross domestic product (GDP) has come in at a better-than-expected 7.7%, largely helped by a 14% surge in gross fixed capital formation. As well, FY18 has ended with a growth of 6.7%.