'Global slowdown would trim India’s growth'

Reuters
Posted online: Friday , January 18, 2008 at 12:22 hrs
Updated On: Friday , January 18, 2008 at 12:38 hrs

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India's annual economic growth rate could be lowered by up to half a percentage point if there is a global slowdown, deputy chairman of the Planning Commission, Montek Singh Ahluwalia, said on Friday.

The commission last year projected an annual average growth rate of 9 per cent for India between 2007/08 and 2011/12.

"On a basis of 9 per cent, if there is a global slowdown, maximum impact on Indian economy could be half a per cent," Ahluwalia told reporters at a business conference.

On Thursday, Finance Minister Palaniappan Chidambaram said any slowdown in the United States might lead to lower global output growth in 2008 and that would have some impact on India.

The Prime Minister's economic panel has forecast an 8.9 per cent growth for 2007/08, and this will moderate to 8.5 per cent next year.

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'Global slowdown would trim India’s growth'

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