Buoyed by robust industrial growth in August 2009 PM’s economic panel projected factory growth at 7.5% to 8% this fiscal.
Mr C Rangarajan Prime Minister’s Economic Advisory Council Chairman told reporters that “I think the industrial production numbers clearly indicate that industrial recovery is well on the way. I would expect that during the current financial year, the industrial growth would be 7.5% to 8%. GDP growth will be 6% to 6.5%.”
The industry recorded 22-month high growth of 10.4% in August from a marginal 1.7% a year ago. It added that industrial growth during the first five months of this fiscal stood at 5.8% against 4.8% a year ago.
The RBI has pegged the economic growth at six per cent this fiscal.
(Sourced from http://www.steelguru.com/news/index/2009/10/16/MTE2Mjg2/Macroeconomic_indicators_-_Industry_may_grow_at_7.5_to_8pct_-_PMEAC.html)
Thursday, October 15, 2009
Macroeconomic indicators - Industry may grow at 7.5 to 8pct - PMEAC
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