Revised GDP gwth for 07-08 at 9% on expected line:CII
Published on Fri, May 30, 2008 at 16:41 | Source : Moneycontrol.com
Updated at Fri, May 30, 2008 at 18:43
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Revised GDP gwth for 07-08 at 9% on expected line:CII
The revised GDP growth for 2007-08 released by CSO at 9% is in line with CII expectations. CII had projected a GDP growth of 9.2% for 2007-08, said Confederation of Indian Industry in a press release issued here today
The revised GDP growth for 2007-08 released by CSO at 9% is in line with CII expectations. CII had projected a GDP growth of 9.2% for 2007-08, said Confederation of Indian Industry (CII) in a press release issued here today.
The moderation in the growth has been mainly due to tight monetary policy resulting in interest rate hardening. The impact has been severe on industrial production especially on Consumer durables sector.
Agriculture sector has registered a higher growth of 4.5% during 2007-08 as against growth rate of 3.8% last year on account of above normal monsoon, This is very encouraging as growth rate of agriculture during 2007-08 is higher than the plan target of 4% and will help contain inflationary expectations on account of food prices, said the CII release.
