Forecasts peg real GDP growth in 6.3-8 pc range | business | Hindustan Times
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Forecasts peg real GDP growth in 6.3-8 pc range

business Updated: Jan 26, 2009 19:12 IST

The Reserve Bank on Monday said forecasts by select agencies have pegged real GDP growth for 2008-09 in the 6.3-8 per cent range.

While the World Bank has pegged overall growth at 6.3 per cent, the lowest, the Confederation of Indian Industries (CII) has pegged it above 8 per cent, the highest.

The Prime Minister's Economic Advisory Council sees overall growth at 7.1 per cent, and other agencies have pegged it in the 7-8 per cent range.

Similarly, while the Asian Development Bank and Assocham have pegged it at 7 and 7.6 per cent, respectively, Crisil has put it between 6.5 and 7 per cent.

Merrill Lynch and Citigroup have pegged growth at 7.2 per cent, while the Centre for Monitoring Indian Economy (CMIE) has pegged it at 7.4 per cent.

On same lines, the National Council of Applied Economic Research (NCAER) and UNCTAD have each put the figure at 7.6 per cent.

The International Monetary Fund (for the calendar year 2008) has put growth at 7.8 per cent, while the Finance Ministry says it would be around 7 per cent.