MUMBAI: Indian economy is expected to witness a growth of 7.8 per cent in the current financial year on account of likely recovery in agriculture and private consumption, says a Credit Suisse report.

According to Swiss financial major, while the first six months of 2016-17 would see growth consolidating at current levels, the improvement in economy is likely to take place in the second half of the year.

"This recovery is likely to be gradual with agriculture and private consumption leading the way but corporate investment and exports remaining lacklustre," it said.

At the same time, the report also estimates GDP growth for January-March quarter of 2015-16 to accelerate to 7.5 per cent from 7.3 per cent in the previous quarter.

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