Financial services firm Nomura has
revised down India`s growth projection to 6% from 6.3% for the current fiscal due to deficient monsoon
rains, while adding that the Indian economy is likely to
rebound to 8% next fiscal.
The Planning Commission on Tuesday said
the economy would grow slower in six months ending December compared to the first quarter, but Prime Minister Manmohan Singh exuded confidence that the worst of global downturn was behind.
India`s first-quarter growth of 6.1 per cent, highest since the global crisis touched shores last September, hasn`t surprised economists who kept their full-year outlook few shades lower than the government`s.
The government is working with
various regulators to push for financial sector reforms in the
country and expects the GDP to grow at above 6.5 per cent in
FY10, Finance Secretary Ashok Chawla said on Monday.
Finance Minister Pranab Mukherjee
on Thursday projected a 15-20 per cent fall in summer crop output,
and said economy in the next fiscal could grow over 8 per cent
if no further adverse situation emerges.