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The economy rebounded with green shoots of recovery. The Indian economy grew by 5.7% during the first quarter of FY2014–15, the highest growth recorded in nine quarters. The construction sector grew by 4.7%, significantly higher compared to the 0.7% growth during the previous quarter, due to increased activity in the real estate and infrastructure sectors.
Reduction in Current Account Deficit (CAD). India’s CAD narrowed to 1.7% of its GDP during the first quarter of FY2014–15 against 4.8% during the same period a year ago. In August 2014, the Reserve Bank of India (RBI) maintained status quo on key policy rates.
GDP is anticipated to grow at 5.5–6% in FY2014–15. With revived business sentiment supported by improving macro-economic indicators, the Indian economy is expected to register a growth of 5.5–6% in FY2015.
Source : Cushman & Wakefield
