Photo: Ramesh Pathania/MintMumbai/New Delhi: Rather than highlighting how far India’s economy has come under Prime Minister Narendra Modi’s pro-growth administration, Wednesday’s gross domestic product report will underscore just how much there is to lose from his shock clampdown on cash. Expansion probably accelerated to 7.5% in July-September, according to the median of 25 estimates in a Bloomberg survey of economists. Such a slowdown would imperil India’s position as the world’s fastest-growing major economy. A bigger concern, though, is how soon the $2 trillion market can fully rebound from the effects of Modi’s measure. The Reserve Bank of India’s decision will be a “close call,” Citigroup economists Samiran Chakraborty and Anurag Jha wrote in a report on Sunday.

Source: Mint November 29, 2016 03:53 UTC