Monday, November 29, 1999

CMIE retains 9.2pc growth forecast for this fiscal

News posted by

Mumbai, June 17 (PTI) Robust industrial, manufacturing and services will drive up economic growth to 9.2 per cent this fiscal, the Centre for Monitoring Indian Economy said here today. "We expect gross domestic product (GDP) to grow by 9.2 per cent in 2010-11 compared to a 7.4 per cent in 2009-10," CMIE said in its report on the state of the domestic economy. The leading economic think-tank has been maintaining a 9.2 per cent growth in 2010-11 since March this year. This is higher than the government forecast of 8.5 per cent as well as RBI''s 8.2 per cent this fiscal. According to the agency, the economy grew by over 9 per cent between 2005-06 and 2007-08 and it is now returning to the same level after a two-year blip. The report forcecasts a 9.6 per cent growth for the industrial sector (including construction) this fiscal as against the 9.2 per cent last fiscal. "In the current fiscal, growth in the manufacturing sector will be led by the food products segment, especially sugar and edible oil," CMIE said. Acceleration in consumption and investment growth in the current fiscal will contribute to a higher growth in consumer durables and capital goods output, respectively, the report stated.

News posted by

Click here to read more news from
Please follow our blogs



No comments:

Post a Comment