India is the fastest ascending key economy in Jan-March quarter

India is the fastest ascending key economy in Jan-March quarter

India still appears to be the fastest ascending key economy worldwide the previous quarter, with positive dynamics buoyed by an improved performance in services and manufacturing, as a Reuter’s survey of economists disclosed.

Prime Minister Narendra Modi's ban of high-value currency notes the previous year had a crucial short-term impact on demand, although private and public consumption has revived.

The median prediction from a survey of 35 financial experts demonstrated that the Indian economy ascended 7.1% annually during the first three months of 2017. Predictions varied from 6.5 to 7.8%.

Annual surge hit 7% in the quarter ending December, as well as 7.9% in the January-March quarter the previous year.

India's industrial output inched up 2.7% in March from last year, thus exceeding the median consensus of 1.5% surge in a Reuters survey.

Factory and services activity headed north for most of the first quarter of this year, adding to a five-month peak in March, thus showing that the effects from demonetization appeared to be short lived.

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