CMIE ups GDP growth to 5.9% for FY 10
Mumbai: Economic think-tank CMIE has
upped the economic growth forecast for India this fiscal to
5.9 percent from its earlier projection of 5.8 percent.
The recovery would come on the back of a 6.4 per cent
expected growth in the last quarter of FY 10, Centre for
Monitoring Indian Economy (CMIE) said in its latest report on
the state of Indian economy.
But poor monsoon and insufficient and untimely import
to replenish the supply could have an impact on inflation, it
CMIE, however, forecast that the GDP growth would fall
to 5.9 percent in the current quarter (July-September) and
that the economy will grow only by 4.6 percent in Q3 FY 10.
"Fiscal 2009-10 is, therefore, likely to end with a
growth of 5.9 percent," CMIE said.