· India fiscal deficit for the first 5 months of FY 15 reaches 74.9% of the budget estimate compared to 74.6% in FY 14. Government has set target of 4.1% for FY15
· As per RBI GDP growth will improve to 6.3% in FY16 as economy witnesses a turnaround on the back of policy reforms. However, it keeps its GDP growth estimate for current FY 15 unchanged at 5.5%. Recovery has been “uneven”, noting a slack in growth during Q2 after a positive growth of 5.7% in Q1 (June 14 );
· India’s Infrastructure output grows by 5.8% in Aug against a 3-month low print of 2.7% in Jul and a growth of 4.7% in Aug 2013. The jump comes largely as electricity output expands by 12.6% against last year’s 7.1%, coal by 13.4% against 6.1% and cement by 10.3% against 5.2%. Infrastructure sector overall accounts for 37.9% of India’s Industrial Output.
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