Indian economic growth set to end 5-quarter slide

BENGALURU, Nov 29: Indian economic growth likely rebounded in the July-September quarter from the slowest growth in three years, with demand picking up modestly as the effects from a shock ban on high-value currency notes eased, a Reuters poll showed.
If that's correct, the data will be the latest evidence of a broad-based global economic upturn across Asia and most of the world that has many major central banks poised to move away from ultra-easy monetary policy.
India was the world's fastest-growing major economy in 2016. But already-slowing growth was made weaker by the surprise cash clampdown late in 2016 by Modi government.
In July, the government introduced a goods and services tax that made sweeping changes to the way businesses across Asia's third largest economy charge taxes, delivering another blow to the economy. But the Reuters poll of 52 economists over the past week showed gross domestic product growth likely rose to 6.4 per cent from a year ago in the July-September quarter, from 5.7pc in the previous period.
If the data, due to be released on 1200 GMT on Nov 30, matches expectations, it will break a five-quarter slowing trend and mark the best rate this calendar year.    —Reuters