Goldman Sachs also said that it expects crude oil to climb up to $85 in 2015, while giving a positive outlook to India's prospects
The Indian economy will grow at 6.3% in 2015, said Tushar Poddar, India economist, Goldman Sachs. He expects India to become the fastest growing emerging market over 2016-18, overtaking China.
Poddar believes that balance sheets of the corporate sector and banks were a concern, but risks had peaked and would come down as macros improve.
Goldman Sachs expects crude oil to climb to $85 in 2015. Poddar said that GDP in the external environment will remain benign, and India's GDP should grow at 6.5% in FY16 and 7% in FY17.
Goldman Sachs feels that improvement in governance and micro-conditions – especially, the cost of doing business, rapid urbanisation and higher capital spending could lead to higher growth rates in the Indian economy.
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