Arab Today, arab today india cuts growth rate forecast
Last Updated : GMT 21:21:01
Arab Today, arab today
Arab Today, arab today

India cuts growth rate forecast

Arab Today, arab today

Arab Today, arab today India cuts growth rate forecast

New Delhi - AFP

India on Monday cut its growth forecast for the current fiscal year to just below six percent, putting Asia\'s third-largest economy on track for its worst annual performance in a decade. The finance ministry said \"supportive\" moves from the central bank would be needed even for the economy to expand at the revised level of 5.7-to-5.9 percent, down from 7.85 percent estimated at the start of the year. The forecast came a day before the bank was expected to keep the benchmark interest rate on hold as it waits for stubborn inflation to ease, despite mounting pressure for a cut to boost the sluggish economy. \"It should be possible for the economy to improve the overall growth rate of GDP (for the year) to around 5.7 percent to 5.9 percent\" from 5.4 percent in the first half, said the Mid-Year Economic Analysis tabled in parliament. The full-year rate would be far below the near double-digit pace India set before the onset of the global financial crisis. Finance Minister P. Chidambaram has been urging the central bank to reduce high interest rates to bolster the economy. But the bank has kept rates steady since April -- when it cut them for the first time in three years -- unlike other developing countries which have lowered borrowing costs to shield their economies from the eurozone crisis. India\'s bank has insisted inflation must recede and the government needs to curb its ballooning fiscal deficit -- the widest of all emerging market economies -- before more rate cuts. Growth in 2011-12 fell to a nine-year low of 6.5 percent hit by high interest rates, struggling overseas economies and sluggish investment caused by concerns about policymaking and corruption. India\'s economy has not expanded by less than 6.5 percent since the 2002-2003 financial year. Economists had already cut their year growth forecasts to mid-five percent or lower.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india cuts growth rate forecast Arab Today, arab today india cuts growth rate forecast

 



Arab Today, arab today
Arab Today, arab today Reveals his participation in "Fashion Star" TV show

GMT 12:49 2017 Wednesday ,01 March

Reveals his participation in "Fashion Star" TV show
Arab Today, arab today Egyptair and Etihad Airways sign partnership

GMT 21:08 2017 Wednesday ,01 March

Egyptair and Etihad Airways sign partnership
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN report confirms war crimes were committed

GMT 20:43 2017 Wednesday ,01 March

UN report confirms war crimes were committed
Arab Today, arab today NUMP's conference to discuss proplems

GMT 13:40 2017 Wednesday ,01 March

NUMP's conference to discuss proplems
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Lasers flesh out dino-bird profile

GMT 12:24 2017 Wednesday ,01 March

Lasers flesh out dino-bird profile
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Najla Badr will participate in “30 Days” drama

GMT 06:23 2017 Monday ,27 February

Najla Badr will participate in “30 Days” drama
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:54 2017 Wednesday ,01 March

Shanghai expands public smoking ban

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom,China plunges into biz

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:27 2017 Wednesday ,01 March

GSMA: 5 billion mobile phone users in 2017

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday