Indian economy to grow over 5 percent next fiscal

October 5th, 2009 NEW DELHI - India's economy will grow at 6.3 percent this fiscal as per prediction, while inflation would remain under 5 percent, according to Planning Commission Deputy Chairman Montek Singh Ahluwalia. "The GDP (gross domestic product) would be at 6.3 percent by the end of this fiscal, as predicted, but could be even better given the signs of economic recovery," Ahluwalia said here Monday.

September 22nd, 2009 MANILA - The Indian economy is expected to grow by 6 percent this year as capital inflows, industrial production and business confidence soar, the Asian Development Bank (ADB) said in a report Tuesday.

September 17th, 2009 HYDERABAD - Indian economy will see "definite signs of recovery" in the second half of the current financial year and will grow between 6 and 6.5 percent in the fiscal, Prime Minister's Economic Advisory Council chairman C. Rangarajan said here Thursday.

September 7th, 2009 NEW DELHI - The Indian economy could grow by 5 percent this year even as the world output is slated to decline by 2.7 percent, a report said Monday. "Since domestic demand accounts for a large and increasing share of total demand, South Asia, particularly India, is expected to see continued growth in 2009," said the trade and development report, 2009, of the United Nations Conference on Trade and Development (UNCTAD).

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 28th, 2009 India central bank says economy could grow fasterNEW DELHI — India's central bank left interest rates unchanged Tuesday and said Asia's third-biggest economy could grow faster than forecast as it emerges from the global credit bust. Bank Gov. D. Subbarao said "the global economy was showing incipient signs of stabilization, albeit not recovery." The central bank said there is now "an upward bias" to its forecast for the economy to grow 6 percent in the year ending March 2010.

July 21st, 2009 NEW DELHI - India's economy is expected to grow at around 7 percent this fiscal, Minister of State for Finance Namo Narain Meena said in the Rajya Sabha Tuesday. "As per the Economic Survey for 2008-09 and assuming the monsoon would be normal, India's gross domestic product (GDP) is expected to grow at around 7 percent in the fiscal 2009-10," Meena said.

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 12th, 2009 Australian economy forecast to grow in 2010-11CANBERRA, Australia — Treasurer Wayne Swan says the Australian economy is forecast to shrink half a percentage point in the next fiscal year then rebound to 2.25 percent growth in the following 2010-11 fiscal year. Swan revealed the current Treasury forecasts Tuesday as he released his government's budget for the next fiscal year beginning July 1, 2009.

April 4th, 2009 KOLKATA - Despite the economic slowdown, the Indian economy is likely to grow 7-8 percent in 2009-10, ICICI Bank chief executive K.V. Kamath said here Saturday.

March 27th, 2009 NEW DELHI - Deputy Chairman Planning Commission Montek Singh Ahluwalia today said that the economy will pick up in the second part of the fiscal and will grow between 6.5 to seven per cent. Participating in the annual CII Conference here, Ahluwalia said that more fiscal and monetary measures might be necessary in future to achieve the growth target.

March 21st, 2009 NEW DELHI - The Indian economy is unlikely to grow more than five percent in 2009 as 'the worst of the global economic crisis is yet to come', according to the research arm of the global rating agency Moody's. 'GDP (gross domestic product) growth will unlikely exceed 5 percent in 2009, but a rebound in the opening quarter of 2010, which is dependent on a US rebound in the December quarter, should lift annual expansion to about 5 percent for 2009-10,' said Sherman Chan, an economist with Moody's Economy.com, Friday.

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 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).

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.