India Q1 growth likely slowed to 7.1%: Reuters poll

Indian economic growth in the April-June quarter slowed to 7.1%, according to a Reuters poll of economists, due to subdued private investment despite strong consumer spending and government expenditure. Lower Goods and Services Tax and income tax rates continued to boost household disposable income and demand, but rising inflation tempered the impact.

Private investment is expected to remain temporary, as geopolitical uncertainty and higher oil prices strain household budgets and business investment. The economy remains Asia's fastest-growing major economy, with government capex likely to drive growth.