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Skip Navigation LinksHome :: Markets/asset classes :: Foreign exchange :: India's economy seen to grow 9.5% in 2008-09.

Tuesday, July 22, 2008

India's economy seen to grow 9.5% in 2008-09.





India's economy seen to grow 9.5% in 2008-09. According to the Financial Express , a recent report of the Centre for Monitoring Indian Economy (CMIE) said that India's economy was expected to grow by 9.5% in fiscal year 2008-09 (April to March). The projection contradicts the forecasts of many analysts who expect the growth rate to decline this year owing to high inflation and owing to the surge in oil prices. India's economy grew by over 9% in the last three financial years. The CMIE report said that industry was likely to grow by 11.4%, services by 10.6% and agriculture by 3.2% in 2008-09. The report also said that the wholesale price-based inflation was likely to average 9.6% in 2008-09, up from 4.7% in 2007-08.







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