Wednesday, April 29, 2009

Economy To Grow 6.5-7.5 Per Cent In FY10: ICRA - April 29, 2009

The Indian economy is likely witness a growth in the range of 6.5 to 7.5 percent in FY10, if there is a recovery in the global economy from the slump later this year and as government stimulus starts working, ICRA, the rating agency said in a report.

Moreover, ICRA assumes a normal monsoon and the new government puts in place a "coherent and supportive" policy after the April/May elections. In line with this, ICRA said that the growth of India''s economy could be 6.5 percent in the first half of FY10, with a expansion of 4 percent in industrial output and close to 9 percent growth in services sectors. It also added that the economy could later zoom to 7.5 percent growth in the second half of FY10.

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