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Indian economy likely to grow at 7.5% this fiscal: Experts
New Delhi, April
18, 2008
Experts feel that economic growth rate is
likely to moderate to 7-7.5 per cent during the current
fiscal, against 8.7 per cent during 2007-08, though it may be
slightly better in case the core sector improves further.
"The growth rate of 7 to 7.5 is an intrinsic growth rate for
the country and we are settling down at this sustainable
figure for this fiscal," said CITI CEO Sanjay Nayyar at a
panel discussion here.
Standard and Poor's chief economist (Asia Pacific) Subir
Gokaran and economist Omkar Goswami agreed with the growth
numbers projected by Nayyar for the current fiscal. Gokaran
said the most pressing worry at present is the spiralling food
prices and reducing food stock across the world. To drive his
point, he cited an FAO outlook which said global stock of
cereals for 2008 is going to be the lowest in the last 25
years.
Eminent economic journalist T N Ninan said economic growth
rate is likely to be at 7 per cent and added a rider that the
"possible downside is because there is absolute zero
governance in the country."
The panel discussion on the impact of current global slowdown,
high oil prices and appreciating rupee on India's growth was
organised by American Chamber of Commerce (AMCHAM).
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