India forecasts more hurdles upon global tumble

(MENAFN) Although India's current enhancing urban consumption demand and the solid transportation division is significantly supporting the economy, its economic recovery doesn't meet the required target, based on reports.

The global turmoil following the ongoing oil prices' fall with weak investment chances are only making the situation worse, plus it's holding back the progress of the recovery with projections outlaying 7.8pct of GDP growth in this year.

However, the forecasts for the South-Asian Republic's development have been lowered to 7.5 percent; however, the nation is implementing drastic measures by pegging further easing of monetary policy on government's budget proposals.

"The economic recovery, which began in the fourth quarter of 2015, is headed into a consolidation zone into the three months to Sep period of the current year," stated the nation's Finance and Trade Minister.