India may grow faster than f'cast this FY-adviser | delhi | Hindustan Times
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India may grow faster than f'cast this FY-adviser

delhi Updated: Nov 30, 2009 11:53 IST
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India's economic growth forecast for the year to March 2010 may have to be revised upwards as data showed a faster expansion in September quarter, a top policy adviser said on Monday.

Montek Singh Ahluwalia said there was no serious concern on inflation as of now and conventional monetary policy was unlikely to be effective in curbing food price rise.

India's economy grew by 7.9 percent in the quarter through September <INGDPQ=ECI> from a year earlier, shattering forecasts as stimulus measures boosted demand and manufacturing activity surged, data showed on Monday.

"It is difficult to project what will happen in the rest of the year. But this performance does suggest that there may well have to be an upward revision in the GDP growth of 6.5 percent which has been projected so far," Ahluwalia said referring to the forecast of prime minister's panel.