The Hindu Business Line : HSBC sees India GDP growth at 6.2% in FY-10

MUMBAI: Global banking major, HSBC has retained its India GDP growth forecast of 6.2 per cent in FY’0 but hiked the outlook for next fiscal by 0.5 per cent to 8.5 per cent given the economic recovery.

“We have decided to leave the FY’10 GDP growth forecast of 6.2 per cent unchanged. For 2010-11, the growth forecast has been revised to 8.5 per cent as against the earlier forecast of 8 per cent,'' HSBC Co-Head Asian Economics, Global markets, Robert Pri or-Wandesforde told reporters here.

The WPI-inflation, Wandesforde said, is set to touch a height of 8 per cent by February-March, which will be primarily contributed by a surge in energy and manufacturing prices.

Wandesforde said the apex bank's actions were sufficient to hint that the Indian monetary policy is moving to an inflation-focused regime.

In its quarterly review of the monetary policy, Reserve Bank had projected inflation at 6.5 per cent by end-March and pegged the GDP growth at 6 per cent with an upward bias. - PTI

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