Saturday, January 24, 2009

Indian economy expected to show strong recovery

The Economic Advisory Council has lowered the growth forecast for the current fiscal to 7.1% due to the impact of global meltdown. However it is expected that GDP will expand by 7.5% during the next fiscal with expected annual rate of inflation to fall to 4.1% from its current level of 5.6%. Given the positive outlook it is expected that the economy will slowly pick up with signs of strong recovery in the second half of the fiscal.
Source: The Statesman

Richa Shukla
Globsyn Business School