India expects 8.5-9.0% growth in 07/08

Reuters
Posted: Tuesday, Sep 18, 2007 at 0000 hrs IST
Updated: Tuesday, Sep 18, 2007 at 1255 hrs IST

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New Delhi, September 18:: India's economy is likely to grow by between 8.5-9.0 percent in the fiscal year ending March 2008, and while there would be some moderation in growth from a year earlier there would be no slowdown, a top government official said on Tuesday.

"We have been predicting slightly lower growth in this year. The latest industrial output numbers are no reason to reassess growth estimates," Montek Singh Ahluwalia, deputy chairman of the Planning Commission, told reporters.

India, Asia's third-largest economy, grew 9.4 percent in the 2006/07 fiscal year. Industrial output in July rose 7.1 percent from a year earlier, well below forecasts as the impact of tight monetary policy kicked in.

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India expects 8.5-9.0% growth in 07/08

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