India likely to grow at 6%, says Montek
The Times of India, April 28, 2009, Page 20
Washington: India is expected to record a gross domestic product (GDP) growth rate of 6% in this financial year (2009-10), which will improve further in the next fiscal with likely recovery in the global economy, Planning Commission deputy chairman Montek Singh Ahluwalia said on Friday.
“Next year they (IMF) expect the global economy to improve. I am hoping that our economy will also be able to improve,” he said on the sidelines of the G-20 ministerial meeting.
Although RBI too projected a growth rate of 6% during the current financial year, many global agencies like IMF and World Bank expect the Indian economy to expand by only 5.25% and 4%, respectively.
Noting that the global economy is passing through a very severe phase, Ahluwalia said, “We are weathering it better than most countries.” The India economy during 2008-09, according to advance estimates for national income released by the Central Statistical Organisation (CSO) in February, was estimated to grow by 7.1%, down from 9% in the previous fiscal. PTI
The Times of India, April 28, 2009, Page 20
Washington: India is expected to record a gross domestic product (GDP) growth rate of 6% in this financial year (2009-10), which will improve further in the next fiscal with likely recovery in the global economy, Planning Commission deputy chairman Montek Singh Ahluwalia said on Friday.
“Next year they (IMF) expect the global economy to improve. I am hoping that our economy will also be able to improve,” he said on the sidelines of the G-20 ministerial meeting.
Although RBI too projected a growth rate of 6% during the current financial year, many global agencies like IMF and World Bank expect the Indian economy to expand by only 5.25% and 4%, respectively.
Noting that the global economy is passing through a very severe phase, Ahluwalia said, “We are weathering it better than most countries.” The India economy during 2008-09, according to advance estimates for national income released by the Central Statistical Organisation (CSO) in February, was estimated to grow by 7.1%, down from 9% in the previous fiscal. PTI
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