GDP to grow by 6.6% this fiscal, says CMIE

GDP to grow by 6.6% this fiscal, says CMIE
The Economic Times, June 16, 2009, Page 9

MUMBAI: Despite falling exports, the economy would grow by 6.6% this fiscal on the back of a strong domestic market and resilience, economic think-tank CMIE (Centre for Monitoring Indian Economy) said on Monday. However, the economy is likely to bounce back to the 9% growth path by 2010-11 when the impact of poor exports demand is overcome. “Growth during 2009-10 will be a combination of two very divergent stories...In 2009-10, real GDP will grow by a tepid 6.6%,” CMIE said in its monthly review of June. The divergence relate to the resilience and handsome growth of domestic markets and to the falling international demand that is adversely affecting India’s exports, trade, transport and export oriented industries.