India to grow 7.9% this fiscal, but rains key: Crisil

MUMBAI: The Indian economy is likely to grow at 7.9% in 2016-17 provided the country receives normal monsoon, rating agency Crisil has said. “If rains are normal,

MUMBAI: The Indian economy is likely to grow at 7.9% in 2016-17 provided the country receives normal monsoon, rating agency Crisil has said. “If rains are normal, it would give agriculture a one-time growth kick, particularly given the low-base effect of the two previous years... that should lift sagging rural demand and overall GDP growth,” it said, adding it expects RBI cut the repo rate by 25 basis points this fiscal year.

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