Business Daily from THE HINDU group of publications
Wednesday, Mar 26, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Mar 26, 2008 ePaper | Mobile/PDA Version |
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Industry & Economy
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Economy ‘GDP to grow 7.8% in 2008-09’ Our Bureau New Delhi, March 25 Indian economy is set to slow down to a more sustainable rate of 7.8 per cent in 2008-09, mainly on account of expected slower growth in private consumption and decline in net exports, according to the Economist Intelligence Unit (EIU). The EIU has also forecast average GDP growth of 7.5 per cent for financial years 2008-09 and 2009-10. It expects reform to slow in 2008-09 due to twin factors of coalition politics and a possibility of general elections. “Economic growth is set to slow, but India is giving an extraordinary performance. India should continue to inspire confidence. In the medium term, continued improvements to the business environment will ensure that India’s growth rate remains the third fastest in Asia”, Ms Anjalika Bardalai, Senior Economist with the EIU, told newspersons ahead of the 13th Business Roundtable with the Government of India. Echoing similar sentiment on economic growth, Mr Gaurav Kapur, Senior Economist, ABN Amro Bank, said that India’s GDP is expected to grow by about eight per cent in 2008-09. He said that the economic slowdown would come mainly on account of expected decline in net exports from the country. More Stories on : Economy
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