India will achieve 7pc growth in FY09: Govt

Posted By: Staff
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New Delhi, Mar 1: The government of India is confident of achieving near to 7 pc growth in this fiscal despite the low 5.3 pc pc growth in the third quarter and global slump. But the global financial institutions predict further fall in the figures. India's GDP (Gross Domestic Product) growth declined to 5.3 pc in the third fiscal against 8.9 pc a year ago. This is the lowest in 5 years.

Goldman Sachs, a global financial institution said the India's economic growth will slowdown to a 6.7 pc in 2008-09 and may even weaken to 5.8 pc in the year 2009-10. But Pranab Mukherjee, Indian External Affairs minister said that the economy will clock a growth rate close to 7 pc and said the exact figure will be known only after the economy responds to the stimulus packages.

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