India to grow 7 pct if monsoons do not fail

Reuters
Posted: Monday, Jun 29, 2009 at 1301 hrs IST
Updated: Monday, Jun 29, 2009 at 1301 hrs IST

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New Delhi: The Indian economy will grow at 7 per cent in the year to March 2010, if the monsoon rains do not fail, Suresh Tendulkar, chairman of the prime minister's economic advisory council, said on Monday.

The July-September monsoon, crucial to agriculture and rural incomes, have been delayed and are forecast to be at 93 per cent of the long-term average.

In response to a question on where he saw inflation by the end of the fiscal year, Tendulkar said: "WPI (wholesale price index inflation) would still be under 5-6 per cent, if monsoons are all right. If monsoons fail, it will be little more."

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