Growth Outlook for 2019', Confederation of Indian Industry (CII) stated that India will remain the fastest growing major economy with GDP growth estimated to be 7.5% in FY19. The reasons cited for the growth are: Better demand conditions, settled GST implementation, capacity expansion resulting from growing investments in infrastructure and better credit inflow especially in the service sector (that is of 24%). Additionally, CII had suggested the following: only three slabs for GST - a standard rate, a higher rate for demerit goods and a lower rate for some mass consumption items - and the inclusion of fuels, real estate, electricity and alcohol in the ambit of the levy. RBI to have lending restrictions on banks under the PCA (prompt and corrective action) and create a limited special liquidity window to meet emergencies of financial institutions. the digitization of land records.
