Niti Aayog sees economy growing 7.5 percent in 2017/18

NEW DELHI India’s economic growth is expected to pick up to 7.5 percent in the fiscal year that ends in March 2018, Prime Minister Narendra Modi’s top economic adviser, Arvind Panagariya, said on Friday.

Asia’s third-largest economy grew 7.1 percent year-on-year in 2016/17, slower than 8 percent growth a year ago, data this week showed.

Panagariya, vice-chairman of the government’s main economic advisory body, told a news conference that economic growth would accelerate further to above 8 percent by 2019.