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Industry to slowdown, says Montek

business Updated: Sep 09, 2010 23:36 IST

Agencies
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Industrial expansion is likely to slow down in coming months, though farm growth would pick up in the second half of the year, said Montek Singh Ahluwalia, deputy chairman of the Planning Commission.

"We know the industrial growth is going to slow down. It is not going to be what it was. It is going back to base level."

He, however, exuded optimism that despite slowdown the country’s GDP (gross domestic product) growth in the current fiscal year will reach the 8.5 per cent target set by the government. "Agriculture growth, which in the first half was slightly lower, should be better in second half. I remain hopeful that 8.5 per cent (economic growth for the fiscal) is possible."