FICCI comments on GDP data

  |    February 9th, 2015   |   60

New Delhi 9 February 2015(N4C Desk)- Commenting on the advance estimate for GDP growth for the year 2014-15 released by CSO earlier today Dr. Jyotsna Suri, President, FICCI said “With a change in the base year and an enlarged coverage for capturing economic activities, we see an evident increase in the growth rate to 7.4 per cent for the year 2014-15. This is positive news for the economy.”

“ However, we must remember that large segments of the industrial sector are still faced with muted demand and a sustained increase in GDP requires both investment and consumption demand to move full speed ahead. FICCI’s own surveys amongst industry members show that recovery in the domestic capex cycle continues to be a key concern. We are looking forward to the ensuing budget and hope to see more measures by the government to give a boost up to the investment cycle”, Dr. Suri added firther.