Concerns over GDP data stay, India to grow at slow 7.4%: HSBC

NEW DELHI: India’s economy is likely to grow at a slightly slower pace of 7.4% in 2016-17, amid weaker global demand and risk aversion, according to a HSBC report,

NEW DELHI: India’s economy is likely to grow at a slightly slower pace of 7.4% in 2016-17, amid weaker global demand and risk aversion, according to a HSBC report, which flagged off “methodological concerns” in computation of official GDP data. According to the global financial services major, some of the factors that are weighing on the economy include weaker global demand, banking sector risk aversion, sluggish domestic private investment, gradually climbing oil prices, and statistical auto-correction in growth prints.

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