Indian economy is expected to grow at 7.2% in FY19
The Central Statistics Office (CSO) has recently released the First advance estimates of National Income for the current fiscal FY 19, under the Ministry of Statistics and Programme Implementation. In it, Indian economy is expected to grow at 7.2% in FY19, against 6.7% in FY18, due to improvement in the performance of agriculture and manufacturing sectors. However, the CSO estimate is a bit lower than 7.4% growth projected by the Reserve Bank of India (RBI) for the current fiscal. According to the estimates, farm sector is set to grow at 3.8% against 3.4% last year, at constant or inflation-adjusted prices. At current prices, the sector expected to grow at an identical 3.8%, which could be emblematic of an agri-commodity price crash across wholesale mandis.