According to Chairman of the Prime Minister''s Economic Advisory Council, Suresh Tendulkar, India''s economic growth may slip to about 7 per cent in the current fiscal due to the present global financial turmoil. The counsel had forecasted a gross domestic product (GDP) growth of 7.7 per cent in August. The Reserve Bank of India, in its policy review on October 24, had projected a GDP growth of 7.5-8 per cent.
While Finance Minister P Chidambaram recently expressed confidence that economy would grow 8 per cent despite the crisis. Along with this, the International Monetary Fund (IMF), in its latest World Economic Outlook update released last week, projected a growth rate of 7.8 per cent for India, down by 0.1 per cent from its forecast in October.
While Finance Minister P Chidambaram recently expressed confidence that economy would grow 8 per cent despite the crisis. Along with this, the International Monetary Fund (IMF), in its latest World Economic Outlook update released last week, projected a growth rate of 7.8 per cent for India, down by 0.1 per cent from its forecast in October.
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