Sunday, October 12, 2008

India may register a Gross Domestic Product growth of 7.9 % in 2008-09, which may slip to 6.9 % in 2009-10 - World Economic Outlook projection

India's internal growth dynamics:

"We are projecting that the growth in India will come down from eight per cent in 2008 to seven per cent in 2009. But seven per cent is still a strong rate of growth," the IMF official said.

A likely seven per cent growth rate at a time when the world economy is on a downhill path, would reflect India's internal growth dynamics, he said.

Giving reasons for relatively mild impact on India of the ongoing financial turmoil, Blanchard said, "India is still largely a closed economy, has strong internal growth dynamics, from rapid productive growth, from its process of integration into the global economy that is still continuing" To read more, please, visit - Indian economy will continue to perform well

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