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MANAGEMENT
DISCUSSION AND ANALYSIS
Economic overview
Global overview
Global growth slowed to 3.1% in 2016
and is estimated to recover in 2017. This
stable average growth rate masks divergent
developments in different country groups.
There was a stronger-than-expected
growth in advanced economies, primarily
owing to reduced inventories and marginal
manufacturing output recovery. But this
uptick was partially negated by an unexpected
slowdown in some emerging market
economies. Going forward, economic activity
in advanced economies and EMDEs (emerging
markets and developing economies) is
forecast to accelerate in 2017 and 2018,
with global growth projected to be 3.4% and
3.6%, respectively.
(Source: IMF)
Indian overview
With a GDP at Rs. 121.90 lakh crore (at
constant (2011-12) prices), India ranks as
the fifth largest economy. India was also
the fastest-growing major economy as per
the Central Statistics Organisation (CSO)
and International Monetary Fund (IMF).
The Economic Survey 2016 describes The
Indian economy has been growing at an
accelerated pace since 2014, supported by
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