The economy of India may grow at 7.2 per cent this fiscal due to the improvement in consumer sentiment as well as policy reforms and projected growth in agriculture and industrial sector, Assocham survey said. This survey, which covers 300 businessmen, out of that about 42 per cent of the respondents said that the policy reforms would cast large impact on the GDP growth.
The majority of the respondents said that the significant reforms would be brought by the government this year and around 91% believed that in the coming months there is good scope of improvement in consumer sentiments.
However, about 40 per cent respondents felt that the isolation of rural India has a huge impact on the GDP growth, it said.
"The agriculture sector is expected to record the growth rate of 3.5 per cent as good monsoons, better crop prices and upward revision of the crop forecast has ensured a healthy growth rate for the agriculture sector," it said.
Moreover, the industry sector is expected to register a growth rate close to 4.6 per cent in the fiscal. Assocham also said that the services sector is estimated to chart a growth of 9.7 per cent in 2009-10 due to the consumer sentiment''s improvement along with the increased in government spending and anticipated reforms.
On the top of this, it said that about 75 per cent of the respondents believed that in order to stimulate the economy, the government would use further fiscal incentives.
The majority of the respondents said that the significant reforms would be brought by the government this year and around 91% believed that in the coming months there is good scope of improvement in consumer sentiments.
However, about 40 per cent respondents felt that the isolation of rural India has a huge impact on the GDP growth, it said.
"The agriculture sector is expected to record the growth rate of 3.5 per cent as good monsoons, better crop prices and upward revision of the crop forecast has ensured a healthy growth rate for the agriculture sector," it said.
Moreover, the industry sector is expected to register a growth rate close to 4.6 per cent in the fiscal. Assocham also said that the services sector is estimated to chart a growth of 9.7 per cent in 2009-10 due to the consumer sentiment''s improvement along with the increased in government spending and anticipated reforms.
On the top of this, it said that about 75 per cent of the respondents believed that in order to stimulate the economy, the government would use further fiscal incentives.
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