The voluminous report running into nearly 600 pages says that economic growth in India continues at a solid pace of a projected 7.4 per cent over the four quarters of 2016.
“Private consumption has been a major driver in economic growth, contributing 4.3 percentage points to its 7.
3 per cent real GDP growth rate in the four quarters through 2016:Q3,” the report said, adding that lower inflation and fiscal consolidation over the past year has created additional policy space for India to stimulate growth should a crisis occur.
