In­dia's GDP growth may be be­low 6pc next fis­cal: CII

The Pak Banker - - Front Page -


In­dia's eco­nomic growth is expected to be less than 6 per­cent in the next fis­cal due to slow­down in western mar­kets like US and Europe, a sur­vey has said. Ma­jor­ity of re­spon­dents sur­veyed said they ex­pect the coun­try's Gross Do­mes­tic Growth in the range of 5-6 per­cent in the next year, ac­cord­ing to a sur­vey jointly con­ducted by Con­fed­er­a­tion of In­dian In­dus­try and McKin­sey & Co.

As many as over 50 per­cent re­spon­dents said that the Euro cri­sis, fol­lowed by slow­down in the US and in­creas­ing oil prices are expected to have the big­gest im­pact on the In­dian econ­omy, it said. The growth rate dur­ing the first quar­ter of the cur­rent fis­cal was 5.5 per­cent. In the Bud­get for 2012-13, the then fi­nance min­is­ter Pranab Mukher­jee had pro­jected the econ­omy to grow by 7.6 (+/0.25) per­cent. This was done in the view of global and do­mes­tic fac­tors like poor in­vest­ments and sub­dued de­mand.

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