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Economy to grow by 9% in '07: S&P

Reuters
Posted online: Tuesday , October 09, 2007 at 00:00 hrs
Updated On: Tuesday , October 09, 2007 at 10:43 hrs

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International ratings agency Standard and Poor's said on Tuesday it expects India's economy to grow by 9 per cent in 2007 and 8.8 per cent in 2008.

Indian interest rates were clearly peaking, and the rupee was likely to end the year at 40.5 per dollar, S&P said in a report released in Mumbai.

The Reserve Bank of India forecasts the Indian economy to grow by 8.5 per cent in the fiscal year ending March 2008.

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