The International Monetary Fund (IMF) pegs India’s growth at 7.6% in the year ended March 31, 2016 and estimates a growth of 7.4% for 2016 and 2017. As per IMF’s estimates in April 2016, there is a gradual increase in the global weight of fast growing countries such as India and China which play a role in boosting global growth. It is estimated that growth of the Indian economy will continue to be driven by private consumption, which has benefited from lower energy prices and higher real incomes. With the revival of sentiment and pickup in industrial activity, a recovery of private investment is expected to further strengthen growth. (Source: World Economic Outlook Update for April 2016.)
This update provides a brief overview of the key legal and regulatory developments in India from May 1, 2016 to October 31, 2016.