Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
Economic growth of India to recover to 6% in 2009: ADB
+ -
10:24, September 22, 2009

 Related News
 Economic growth of developing Asia to reach 3.9% in 2009: ADB
 China's economy to grow by 8.2% in 2009: ADB
 S Korea's export business sentiment stands at 6-year high for Q4
 S Korea posts $1 bln in trade surplus in first 20 days of Sept.
 DPRK says having boosted economy in frog-jumping campaign
 Comment  Tell A Friend
 Print Format  Save Article
The Indian economy is expected to grow by 6 percent this year, a stronger recovery from the global downturn as capital inflows, industrial production and business confidence soar, the Asian Development Bank (ADB) said in a report released Tuesday.

In the Asian Development Outlook 2009 Update, the bank said while agricultural output for 2009 is expected to remain stunted and exports weak, adroit economic management in the form of fiscal stimulus packages and accommodative monetary policy has minimized damage from the global financial crisis and is supporting a relatively strong economic expansion again.

The report forecast a growth of 7 percent for 2010, also an upward revision from the 6.5 percent projection in March.

"The government's strong fiscal stimulus, complementing the Reserve Bank of India's aggressive monetary policy easing, has successfully brought last year's economic slowdown to an end," ADB Chief Economist Jong-Wha Lee said in a press release.

The report said while the public expenditure-led growth strategy remains appropriate given global economic weakness, the growing federal and state government deficits are not sustainable in the long run.

One downside risk to the outlook for the economy is financial crowding out of private investment as a result of the government's stimulus program, the report said, adding that this risk is most likely to arise in 2010, and underscores the need for the government to follow through on its plans to make fiscal adjustments.

Another potential threat is that domestic food price inflation may create a dilemma for monetary management in 2009 as the Reserve Bank of India seeks to keep inflation expectations in check, but not to choke off a recovery, the report added.

Source:Xinhua



  Your Message:   Most Commented:
World's top ten most mysterious and horrible spots
Which country has the most beautiful women?
Indian media stinks up public opinions
Baby alien found by Mexican farmer
How do India's middle school textbooks portray China?

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90778/90858/90863/6764233.pdf