An Empirical Analysis of Calendar Anomalies in Stock Returns – Evidence from India

During October 2016, the IMF projected a robust 7.6% growth rate for India in 2017, by keeping to continue with its tax reforms and continued investment in infrastructure , education and health care and quoted that “ India‟s GDP will continue to expand at the fastest pace among major economies, with growth forecast at 7.6% in 2016-17”[1]. In 2015, India‟s GDP grew at 7.6% , as compared to China‟s 6.9%. Global growth is projected to slow to 3.1% in 2016 before recovering to 3.4% in 2017. Similarly, if we look at previous data, India was laggard among the big emerging economies but thereafter in 2015, Indian economy grew by, 7.2 %, faster than any other major nation. Based on the current scenario of the country, some global companies like General Motors, Foxconn and Apple has announced their major investment drives in India[2]. But the question arises that whether India‟s resurgence can be sustained into the future. Similarly, several questions arises on inflation, growth rate, unemployment, government deficit etc