New Delhi, July 08: Global economic slowdown is
expected to pull down India`s growth and the country is
expected to grow between 6 and 6.5 per cent in the current
fiscal, rating agency Crisil said.
"Monetary easing and fiscal stimulus by the government
notwithstanding, the prevailing global economic slowdown is
expected to pull down growth further in 2009-10...The economy
is expected to grow at around 6-6.5 per cent in 2009-10,"
Crisil said in a report.
It further said that the growth would slide in first half
of 2009-10 and would post a mild recovery beginning in the
third quarter.
"...As the global economies recover and the impact of
monetary loosening on the economy kicks in, growth in India
will pick up," it said.
Crisil expects the Indian economy to expand by 7.2 per
cent in 2010-11.
After 2011-12, the economy should be on the 8 per cent
growth path, it said.
To boost the economy, the government came out with three
fiscal stimulus packages, one each in December last year, in
January and in the interim Budget, giving incentives to
various sectors and cutting taxes. However, India managed to
grow at 6.7 per cent in 2008-09.
Bureau Report
