US Assistant Secretary of State (Bureau of South and central Asian affairs) Robert O Blake on Friday said the future of Indian economy seems very bright and the country is likely to become the world`s largest economy by 2050.
SBI Chairman O P Bhatt on Monday sounded
much optimistic on economic growth and projected nearly seven
per cent expansion this fiscal, on a day when RBI professional
forecasters revised down the forecast to six percent.
The plan panel expects the economy to grow 6.3 percent in the year to March 2010 and at a faster pace in the following years, it said in a background paper which will be presented in a meeting with the Prime Minister.
At a time when fiscal deficit is
burgeoning at 6.8 per cent of GDP, an occasional paper from
the RBI says narrowing the deficit is relevant for
stabilisation as money supply expansion leads to inflation.
India`s sugar production may slump
to about 13 mn tn in the 2009-10 season as farmers
refrained from taking to the cash crop in a major way after
the Food Ministry suggested a smaller support price of
Apparel and FMCG segments will
be the driving forces for the Indian retail sector, which is
likely to grow annually by nine per cent to touch USD 521
billion by 2012, a senior retail industry official said.