NCAER lowers growth forecast
The mid-year review released by the India International centre, in collaboration with the National Council for Applied Economic Research, lowered India's growth forecast for 2011-12 to 7.9%.
By ET Bureau | Updated:
NEW DELHI: The mid-year review released by the India International centre, in collaboration with the National Council for Applied Economic Research ( NCAER), lowered India’s growth forecast for 2011-12 to 7.9%.
The earlier forecast for GDP growth, released by NCAER in July, was pegged at 8.3%.
The authors attribute a decline in the economy’s growth rate to slower industrial performance, which is consequently expected to hamper growth in the services sector as well.
Since July, industrial growth has been downgraded by half a percentage point to 7.8% for the fiscal. The forecast for growth in agriculture is intact at 3.2% during 2011-12 owing to a normal monsoon.
The earlier forecast for GDP growth, released by NCAER in July, was pegged at 8.3%.
The authors attribute a decline in the economy’s growth rate to slower industrial performance, which is consequently expected to hamper growth in the services sector as well.
Since July, industrial growth has been downgraded by half a percentage point to 7.8% for the fiscal. The forecast for growth in agriculture is intact at 3.2% during 2011-12 owing to a normal monsoon.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
Related Articles
S&P cuts India's FY27 growth forecast to 6.6%, sees inflation at 5.1%ADVERTISEMENT
