As hopes of an above normal monsoon gain ground, experts believe Indian economy may grow beyond 8 per cent in the fiscal year 2017 translating into a surge of growth for the India Inc as well.

"I expect the economy to start picking up from the 2nd quarter in the current financial year. This, of course, will depend on the monsoon and assuming the monsoon good, we should start seeing positive effect of the same in December and March quarter corporate results," said market expert Sudip Bandyopadhyay.

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Though the latest surge in Consumer Price Index (CPI) inflation and Wholesale Price Index (WPI) inflation has dented hopes of a rate cut by Reserve Bank of India (RBI) in its June policy review, Jimeet Modi, CEO, SAMCO Securities said other boosters such as disbursal of 7th pay commission, higher disposable income in the hands of both urban and rural population on account of normal monsoon would lead to all round cascading effects in the economy making India singularly one of the fastest growing large economy of the world.

Bandyopadhyay also noted while the private investment has dried up, the government spending is increasing in a calibrated manner. In this backdrop, the expert suggested following sectors to look upon for medium term: