The Indian economy is likely to witness gradual cyclical recovery, mainly driven by consumption led demand and is likely to clock a GDP growth of 7.7 per cent in the next financial year, says a Citigroup report.
According to the global financial services major, the gradual recovery process would continue going forward with consumption edging investment (supported by the implementation of the Seventh Pay Commission).
According to data of the Central Statistics Office (CSO), the economy is expected to grow at a five-year high of 7.6 per cent in the current fiscal.