The good news continues for the Indian economy. In our last monthly top-picks report, we had highlighted that several pockets of the economy are witnessing growth, mainly driven by consumption and government spending. The latest GDP numbers are a testimony to our claim. India’s GDP for 4QFY2016 grew by 7.9% while FY2016 GDP growth came in at 7.6%, being primarily driven by private consumption (55.3% of GDP) which grew by 8.3% for 4QFY2016. Moreover, the April 2016 core sector production continued to be robust, accelerating at its fastest pace in the past one year.