Morgan Stanley: India's GDP📊 Exaggerated😕

  |   India News

By Fråst🐺

Morgan Stanley chief👔 global strategist Ruchir Sharma claims that India’s🇮🇳 GDP has possibly been 📈“overstated.” He says that the economy💰 is off-track⚠ and has called for more private🏢 investments. He says that the overall investments are fine✅, except that “it has largely been supported by the government.” India’s economy grew📈 7.9% in FY16’s 4th quarter leading to a 5⃣-year high of 7.6% in that fiscal. Sharma said🔉, “The private sector investment is still not picking up in India.” He also said that the RBI’s🏦 decision to bring inflation to 5⃣% was in line with the average of emerging market economies. He compared India to China🇨🇳, S Korea🇰🇷, Taiwan and said, they🔉 “all grew very rapidly when their inflation rates were low. There is no economy which does well with high inflation rates. So, you know all miracle economies. In these countries, inflation rates were below emerging market economies' average.”

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