India's growth to slow down in Q2 & Q3: FM

Posted By: Staff
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New Delhi, Sep 8: Finance Minister Pranab Mukerjee on Monday, Sep 7, said that India's growth will slow down in the next two quarters.

Speaking at a function, Mukherjee said, "I am a little doubtful if we will be able to maintain the same level of growth (6.1 pc of Q1) in the second and third quarters."

Expressing concern over continuous fall in exports, FM said there was no hope of their immediate revival unless some of the Western economies show improvement.

He said, "Over 60 pc of India's exports were targeted at three economies -- Europe accounting for 36 pc, the US 15 pc and Japan 15 pc -- all of which were facing a severe downturn."

"Whether it will be 6.5 pc or 6.7 pc, whether I will be able to retain last year's growth rate, I do not know. There may be some deceleration in second and third quarters...but the fourth quarter will make up," the finance minister said.

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