Indian economy shaking off GST roll out woes, but oil price a risk: S&P Global Ratings

New Delhi: S&P Global Ratings on Tuesday said the Indian economy is shaking off its post-GST implementation woes but risks from higher oil prices have reappeared.

Representational image. Reuters.

Representational image. Reuters.

In a report titled APAC Economic Snapshots -- January 2018, S&P said overall economic risks in India remain low with pick up in industrial output and bank credit.

"The Indian economy appears to be shaking off its post-GST implementation woes... Overall economic risks in India remain low, although risks from higher oil prices have reappeared," it said.

International oil prices have been rising which has also led to increased prices of petrol and diesel. A majority of India's import bill stem from crude oil purchases.

Goods and Services Tax (GST) which unifies over a dozen local taxes, including excise and service tax, was implemented from 1 July, 2017.

During the July-September, 2017, quarter, the Indian economy expanded by 6.3 percent as manufacturing picked up and businesses adjusted to the new GST tax regime.

As per Central Statistics Office (CSO) estimates, the economy will grow 6.5 percent in the full fiscal ending March.

Updated Date: Jan 23, 2018 16:03 PM

Also Watch

Social Media Star: India’s top lifestyle bloggers share their trade secrets on the latest episode
  • Friday, July 27, 2018 First Day First Showsha — Reviewing Tom Cruise's Mission: Impossible - Fallout in 10 questions
  • Friday, August 10, 2018 It's a Wrap: Fanney Khan stars Anil Kapoor, Rajkummar Rao, Pihu Sand in conversation with Parul Sharma
  • Wednesday, August 15, 2018 Partition's real cost: Sonam Kalra revisits accounts of separation, loss in a spellbinding performance
  • Monday, August 13, 2018 Asian Games 2018: How Indian women's hockey team moved on from heartbreak at London World Cup

Also See