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139830
Mon, 08/30/2010 - 00:25
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Economy to clock up to 9.4 pc growth in June qtr: experts
GDP
New Delhi, Aug 29 (PTI) Unfazed by partial rollback of
stimulus, the Indian economy is likely to clock a growth rate
in the range of 8.9 per cent to 9.4 per cent in the first
quarter of this fiscal, almost the pace recorded three years
back, say experts.
The economic growth data for the first quarter is
scheduled to be released on Tuesday.
The economy, which had expanded 8.6 per cent in the
previous quarter, was the second fastest growing large economy
after China, which had registered a growth of 11.9 per cent in
the March quarter.
In the corresponding period last fiscal the Indian
economy grew at a slower pace of 6 per cent.
"The April-June quarter is likely to see an economic
growth of 9.4 per cent on the back of low base last year. The
quarter will the best performing in the current fiscal as
growth will moderate going forward on high base," Yes Bank
Executive Vice President & Chief Economist Subhada Rao said.
Experts attributed the likely high growth to industrial
sector, particularly manufacturing. The industrial output in
the April-June quarter of current fiscal was 11.6 per cent.
Experts said a strong industrial growth will be
complemented by good services and farm sector output which
will make June quarter growth the best in the fiscal.
"We expect agriculture growth to come in at 3.2 per cent,
arising out of rabi harvest and foodgrain procurement. For
services, we project a growth of 9.5 per cent," Axis Bank
Chief Economist Saugata Bhattacharya said.
He added that the June quarter growth would come in at
8.9 per cent.
In the June quarter of FY'10, the agriculture growth was
1.9 per cent and services growth was at 7.5 per cent.
"I see the June quarter growth coming in at 9 per cent.
industry will be the outperformer and farm sector will see
good output on normal monsoon," Crisil Chief Economist D K
Joshi said.
Economists believe the overall economic growth for fiscal
2011-11 is expected to be upwards of 8.5 per cent. Finance
Minister Pranab Mukherjee has projected an economic growth of
8.5 per cent for the current fiscal.
"We expect the FY'11 growth to be at 8.8 per cent," Yes
Bank's Rao said.
While projecting an 8.7 per cent growth for FY'11, Axis
Bank's Bhattacharya said, there could be a deceleration in
industrial activity on high base and tight liquidity ... "this
could impart a downward bias to this number." MORE PTI JD
MYR
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New Delhi, Aug 29 (PTI) Unfazed by partial rollback of
stimulus, the Indian economy is likely to clock a growth rate
in the range of 8.9 per cent to 9.4 per cent in the first
quarter of this fiscal, almost the pace recorded three years
back, say experts.
The economic growth data for the first quarter is
scheduled to be released on Tuesday.
The economy, which had expanded 8.6 per cent in the
previous quarter, was the second fastest growing large economy
after China, which had registered a growth of 11.9 per cent in
the March quarter.
In the corresponding period last fiscal the Indian
economy grew at a slower pace of 6 per cent.
"The April-June quarter is likely to see an economic
growth of 9.4 per cent on the back of low base last year. The
quarter will the best performing in the current fiscal as
growth will moderate going forward on high base," Yes Bank
Executive Vice President & Chief Economist Subhada Rao said.
Experts attributed the likely high growth to industrial
sector, particularly manufacturing. The industrial output in
the April-June quarter of current fiscal was 11.6 per cent.
Experts said a strong industrial growth will be
complemented by good services and farm sector output which
will make June quarter growth the best in the fiscal.
"We expect agriculture growth to come in at 3.2 per cent,
arising out of rabi harvest and foodgrain procurement. For
services, we project a growth of 9.5 per cent," Axis Bank
Chief Economist Saugata Bhattacharya said.
He added that the June quarter growth would come in at
8.9 per cent.
In the June quarter of FY'10, the agriculture growth was
1.9 per cent and services growth was at 7.5 per cent.
"I see the June quarter growth coming in at 9 per cent.
industry will be the outperformer and farm sector will see
good output on normal monsoon," Crisil Chief Economist D K
Joshi said.
Economists believe the overall economic growth for fiscal
2011-11 is expected to be upwards of 8.5 per cent. Finance
Minister Pranab Mukherjee has projected an economic growth of
8.5 per cent for the current fiscal.
"We expect the FY'11 growth to be at 8.8 per cent," Yes
Bank's Rao said.
While projecting an 8.7 per cent growth for FY'11, Axis
Bank's Bhattacharya said, there could be a deceleration in
industrial activity on high base and tight liquidity ... "this
could impart a downward bias to this number." MORE PTI JD
MYR
The information contained in this electronic message and any attachments to this
message are intended for the exclusive use of the addressee(s) and may contain
proprietary, confidential or privileged information. If you are not the intended
recipient, you should not disseminate, distribute or copy this e-mail. Please notify
the sender immediately and destroy all copies of this message and any attachments
contained in it.
