NEW DELHI: In the face of the global economic downturn, Chairman of the Prime Minister's Economic Advisory Council Suresh Tendulkar today said he expects India's GDP to grow this fiscal by around 7%.
The Prime Minister's Economic Advisory Council (PMEAC) had forecast an economic expansion by 7.7% in its June review.
"We will have a relook at our projections in January. My gut feeling is it could be 7%, one or two percentage points here and there," Tendulkar told reporters here on the sidelines of a Planning Commission review meeting on the country's macro-economic situation.
The Reserve Bank of India, in its latest policy review on October 24, projected the GDP growth of 7.5-8%.
"That (7% growth) should not worry us. We will still be recording second highest growth rate (in the world)," PMEAC Chairman said.
India recorded an economic growth of 9% in 2007-08.
Source: http://timesofindia.indiatimes.com/PMs_Economic_Advisory_Council_expects_GDP_to_grow_by_around_7/articleshow/3688899.cms?TOI_latestnews
The Prime Minister's Economic Advisory Council (PMEAC) had forecast an economic expansion by 7.7% in its June review.
"We will have a relook at our projections in January. My gut feeling is it could be 7%, one or two percentage points here and there," Tendulkar told reporters here on the sidelines of a Planning Commission review meeting on the country's macro-economic situation.
The Reserve Bank of India, in its latest policy review on October 24, projected the GDP growth of 7.5-8%.
"That (7% growth) should not worry us. We will still be recording second highest growth rate (in the world)," PMEAC Chairman said.
India recorded an economic growth of 9% in 2007-08.
Source: http://timesofindia.indiatimes.com/PMs_Economic_Advisory_Council_expects_GDP_to_grow_by_around_7/articleshow/3688899.cms?TOI_latestnews
