Indian Economy To Grow At 7.5% This Fiscal: Experts

Experts feel that economic growth rate is likely to moderate to 7-7.5 per cent during the current fiscal, against 8.7 per cent during 2007-08, though it may be slightly better in case the core sector improves further. The growth rate of 7 to 7.5 is an intrinsic growth rate for the country and we are settling down at this sustainable figure for this fiscal," said Citi CEO Sanjay Nayyar at a panel discussion in New Delhi. Standard and Poor''s Chief Economist (Asia Pacific) Subir Gokaran and economist Omkar Goswami agreed with the growth numbers projected by Nayyar for the current fiscal.Gokaran said the most pressing worry at present is the spiralling food prices and reducing food stock across the world. To drive his point, he cited an FAO outlook which said global stock of cereals for 2008 is going to be the lowest in the last 25 years.