Hope for the next financial year.

The next financial year for the Indian economy can be quite good. RBI Governor Urjit Patel believes that the Indian economy has performed strong in the financial year 2017-18 and there is hope of an economic growth in the current financial year.

Urjit Patel, in a program, said that the Indian economy got the strength to grow in the manufacturing sector, increase sales, strong service sector performance and stay at the record level of the agricultural crop.

Patel said that the actual GDP growth in the year 2017-18 has dropped to just 6.6 per cent from 7.1 per cent a year ago but due to the demand for investment, the strength has improved in the second half.

The Reserve Bank Governor said that Indian economy has made strong performance in 2017-18. Increasing in manufacturing, increase in sales, increased capacity utilization, strong service sector activity and record harvest made significant contribution in the performance.

Patel said that global demand has improved, which will lead to export and new investment and real GDP growth in the financial year 2018-19 is expected to increase to 7.4 per cent.

Patel also said that the government is committed to running intelligently on the fiscal market. The Governor said that due to rising tax revenues and subsidy rationalization, the government could reduce the GDP growth rate (GFD) to GDP in 2017-18. has brought 3.5 percent. For this there was no agreement with the expenditure in the public investment requirements and social sector expenditure. In 2018-19, the goal of bringing the gross fiscal deficit to 3.3 percent of GDP.