Indian economy growth to taper to 5 percent: UN unit

August 31st, 2009 NEW DELHI - India managed a reasonable economic growth of 6.1 percent during the first quarter of the current fiscal despite the global financial crisis impacting manufacturing and services sectors. Country's Gross Domestic Product (GDP) growth rate during April-June 2009 at 6.1 percent was higher than 5.8 percent in the previous quarter.

August 12th, 2009 NEW DELHI - The Chairman of the Prime Minister's Economic Advisory Committee, C. Rangrajan, said on Wednesday that distress in the farm sector could have serious consequences on the economy.

July 2nd, 2009 NEW DELHI - The automotive industry in India grew at a computed annual growth rate (CAGR) of 11.5 percent over the past five years, the Economic Survey 2008-09 tabled in parliament Thursday said. The industry has a strong multiplier effect on the economy due to its deep forward and backward linkages with several key segments of the economy, a finance ministry statement said.

June 23rd, 2009 KOLKATA - Life Insurance Corp of India (LIC), the country's largest life insurer, is targeting 20 percent growth in premium this fiscal, a top official said here Tuesday. "Last year we have received total premium of Rs.155,000 crore.

June 11th, 2009 NEW DELHI - The Indian economy is expected to grow by 7.2 percent in the current fiscal, primarily driven by improvements in consumer sentiment, rural economy, and policy reforms, said an industry survey released here Thursday. According to the survey, conducted by the Associated Chambers of Commerce and Industry of India (Assocham), about 42 percent of the respondents believe policy reforms would cast massive impact on the GDP (gross domestic product) growth.

May 29th, 2009 NEW DELHI - India registered an impressive 6.7 percent growth in fiscal 2008-09, despite the deepest economic crisis facing the global economy in six decades, official data showed Friday. Albeit lower than the 9 percent growth in gross domestic product (GDP) registered in 2007-08, the expansion in the current fiscal has been on the upper side of between 6-7 percent that was predicted by the government in the wake of the global slowdown.

May 22nd, 2009 NEW DELHI - Prime Minister Manmohan Singh Friday said the new government's focus will be on restoring the economy and ensure inclusive growth. 'Our first priority is to restore the economy, especially keeping the global recession (in mind),' the prime minister told reporters after assuming office for a second term after his Congress party's sweeping win in the general election.

March 19th, 2009 NEW DELHI - India's economy will grow by at least 5 percent in 2009-10, a Planning Commission member said here Wednesday. 'We should see at least a 5 percent growth in GDP (gross domestic product) in 2009-10.

March 7th, 2009 MUMBAI - The fiscal deficit will stimulate growth of the Indian Economy, chief economic advisor Arvind Virmani said here Friday. 'GDP growth rate for India can be reasonably forecast after the publishing of figures for agricultural output.

February 27th, 2009 NEW DELHI - The growth of India's gross domestic product (GDP) dropped to 5.3 percent in the third quarter ending Dec 31 last year, compared to a growth of 8.9 percent in the same period the previous year. The economy, usually equated to the GDP, had grown by 7.6 percent in the second quarter of this fiscal.

February 11th, 2009 NEW DELHI - The Indian economy will grow by 7 percent this fiscal even as recent projections by global agencies like the International Monetary Fund (IMF) say that advanced countries' economies would shrink by 2 percent, Minister for External Affairs Pranab Mukherjee said here Thursday. 'I am proud to say that in 2008-09 India will still grow by 7 percent,' said Mukherjee while addressing the 81st annual general meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI).

February 8th, 2009 NEW DELHI - The Indian economy is expected to log its lowest growth in six years, falling to 7.1 percent for the current fiscal, against 9 percent in the previous year, official projections of national income said Monday. The estimates, compiled by the Central Statistical Organisation (CSO), said the growth for all the three main components of national income, namely agriculture, manufacturing and services, were expected to fall during the current fiscal.

February 8th, 2009 NEW DELHI - The Indian economy is expected to log its lowest growth in six years and fall to 7.1 percent for the current fiscal, against 9 percent in the previous year, as per official projections on national income released here Monday. The estimates, compiled by the Central Statistical Organisation, said growth figures for all the three main components of the national income, namely agriculture, manufacturing and services, were expected to fall during the current fiscal.

January 28th, 2009 NEW DELHI - The Indian economy will grow at 7 percent in the current fiscal, External Affairs and stand-in Finance Minister Pranab Mukherjee said here Thursday. 'Indian economy will bounce back as the fundamentals of the economy are strong,' Mukherjee told reporters after meeting officials of the finance ministry.

January 28th, 2009 NEW DELHI - Leading think tanks, institutions and policymakers Thursday came out with their own projections of India's growth rate but with one common thread - the country's economic expansion will be sharply lower than 9.1 percent logged last fiscal. The gloomiest picture yet was painted by the International Monetary Fund (IMF), which pegged the growth of India's gross domestic product (GDP) at 5.1 percent.