The Asian Development Bank plans to revise upward its 2010 economic growth forecast for developing Asia to around 7 percent, citing the ability of some nations to quickly employ massive stimulus measures.
The Reserve Bank of India (RBI) on Friday projected an impressive 7.5 percent growth for the Indian economy in the current fiscal even as it hiked the outlook for annual inflation rate to 8.5 percent by end-March.
The leading economic think-tank CMIE on Sunday pegged the economic growth at 7.5 percent for the current fiscal on the back of strong industrial growth-- slightly lower than the projections of Finance Minister Pranab Mukherjee.
India’s gross domestic product (GDP) is expected to expand by around 7.75 percent in the current fiscal, but food inflation remains a “major concern”, Finance Minister Pranab Mukherjee said on Wednesday.
The Indian economy may grow at 7 percent in the current financial year backed by buoyant industry growth combined with an upside in agriculture output, Citigroup said, raising its estimate from 6.2 percent.