GDP growth likely at 7.4% this fiscal: HSBC

New Delhi: India is likely to clock a GDP growth rate of 7.4 per cent this fiscal and key legislations, like Aadhar bill, bankruptcy code and Monetary Policy Committee are likely to support medium-term outlook, an HSBC report says.
The global financial services major expects growth to remain flat as banking sector stress is likely to pull growth lower while normal rains could revive rural demand, offsetting the slowdown.
“We expect GDP growth to flat-line at 7.4 per cent in fiscal 2016-17,” HSBC said in a research note adding hopes of a medium-term revival have improved.