5⃣ Year High Growth Rate📈 For 🇮🇳 👏

  |   India News

Economic growth is estimated at 7.6% for the current fiscal year, the highest⬆ in the last 5⃣ years. The Finance Ministry💰attributed this to the improvement in the quality👍 of Government expenditure. Finance Secretary Ratan P Watal asserted that the capital expenditure which leads to asset creation has seen a significant growth as revenue expenditure (salary, payment & rent). The plan expenditure was 74.4% of Budget Estimate at the end of December, as compared to 61.3 per cent a year ago, according to CGI data. The government aims to reduce fiscal deficit by 3.9% of GDP in current fiscal & further reduce it to 3.5 % in 2016-17. India's🇮🇳 macro indicators have been strong at a time when growth rates are slow, globally🌐.

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