Predicting the country to grow at a rate of 7.6% in the current year, Goldman Sachs stated that Indian economy would be back in the track in the current financial year itself. While the figure of 7.6% growth rate was predicted for this financial year, Goldman Sachs is anticipating an 8% growth in FY19. Talking about the state of Indian economy chief Asia Pacific economist for Goldman Sachs Andrew Tilton said that Indian economy has successfully passed the initial struggling phase of demonetization and GST. Further commenting on the Indian economy, Goldman Sachs is expecting the 50 share Nifty back to 16% this year itself.
Earlier, Indian economy saw Morgan Stanley predicting Indian economy to grow at more than 10% on an annual note in the coming decade. Also investment scenario of the country is expected to get a boost, following Moody raised India’s sovereign credit rating to Baa2.