Direct link to scholarships offered by  Govt. of India

List of Private NGOs offering scholarships

Abu Marwan Abdal Malik Ibn Zuhr: ‘Avenzoar’

Abu Marwan Abdal Malik Ibn Zuhr, known in the west as Avenzoar, was

Ummid Assistant

IRF invites applications for Education Scholarship

Welcome Guest! You are here: Home »  Business & Economy

GDP to grow at 8 percent this fiscal, inflation high till September: FICCI

Monday May 30, 2011 06:44:17 PM, IANS

Related Article

Fruits, milk push food inflation to 8.55 percent

India's food inflation soared to 8.55 percent for the week ended May 14, the highest level in four weeks, as prices of fruits, milk and cereals rose sharply, official data showed Thursday. The annual food inflation has risen for the first time in the last four weeks.   »

New Delhi: The Indian economy's growth will moderate to 8 percent this fiscal compared to the 8.6 percent it is estimated to have expanded by in 2010-11, according to a survey of economists conducted by FICCI.

FICCI's Economic Outlook Survey conducted by polling 12 leading economists from the banking and financial sector and research institutions projected the annual gross domestic product rate at 8.6 percent for 2010-11.

For 2011-12, GDP growth is expected to decelerate to 8 percent, said the FICCI survey.

The survey also predicted the rate of inflation to further accelerate over the first half of the fiscal year (April-September) because of an expected increase in diesel, cooking gas and kerosene prices and supply-side constraints in vegetables, fruits, pulses, milk and eggs.

The economists said inflationary pressures would moderate at around 7 percent by the end of the fiscal as international crude oil prices were expected to stabilise once the over-reaction to problems in the Middle East, which resulted in prices of oil shooting up, calmed down.

The measures expected to be taken by the government to ease supply-side bottlenecks and the possible lagged impact of the successive policy rate hikes by the Reserve Bank of India coming in to play would also impinge the demand-side pressure on inflation.

"A majority of the economists felt that the RBI should stop its current anti- inflationary rate hikes when the inflation moderates to around 7 percent to 7.5 percent. They expect that the RBI will further increase the repo rate by another 50-75 basis points in this rate hike cycle," FICCI said in a statement.

The RBI will conduct its mid-quarterly policy review on June 16.

Some of the other forecasts for 2011-12 by the economists in the survey are:

-- Agriculture and allied activities growth at 3.7 percent

-- Industry growth at 8 percent

-- Services growth at 9.2 percent

-- Fiscal Deficit at 5 percent of GDP

-- Inflation rate (end march 2011) at 6.7 percent

-- Trade Balance at - 7.7 percent

-- Current Account Deficit at - 2.8 percent of GDP

For the first quarter of the current fiscal, the GDP growth was pegged at 8.1 percent, while inflation rate was expected to be at 9.1 percent.




  Bookmark and Share                                          Home | Top of the Page


Note: By posting your comments here you agree to the terms and conditions of

Comments powered by DISQUS




Top Stories

India commissions study on black money

The Indian government said Sunday it had commissioned a study to examine how black money is generated and recommend ways to   »

India to set up new agency to trace black money: Pranab

Why hide names of foreign account holders, asks apex court

No request from India for secret bank data: Swiss Ambassador


  Most Read

WHO urges countries to tackle tobacco epidemic

The World Health Organisation (WHO) Monday urged countries to commit necessary resources to tackle the epidemic of tobacco use, which kills nearly six million people globally every year. »

Plan panel meeting on eastern region begins in Patna

A Planning Commission meeting for eastern region to discuss the approach paper for the next five-year plan began in the Bihar capital Monday, officials said. "The meeting will discuss the approach paper related to 12th Five Year Plan," Vijay Prakash, principal secretary for planning  »


  News Pick

Nepalese PM agrees to quit, crisis averts by hair's breadth

After holding an anxious nation hostage for over a day, Nepal's beleaguered Prime Minister Jhala Nath Khanal finally agreed Sunday to step down in exchange for the three major parties signing a deal to extend the  »

Gaddafi sets terms for relinquishing power

Libyan leader Muammar Gaddafi is ready to relinquish power on the condition that he and his family would not be prosecuted, Arab newspaper Al Sharq Al Awsat reported Sunday. Gaddafi's son Saif al-Islam is heading   »

'Mamata' on Urdu, Madrasa Aliah

West Bengal chief minister Mamata Banerjee on May 26 said that the Urdu language would be given second-language status in districts with a 10 per cent or more Urdu-speaking population. She also declared the restoration of the word “Madrasa” to the   »

NATO airstrike in Afghanistan kills 12 kids

At least 12 children, some under two years, and two women have been killed in a NATO airstrike in Afghanistan, Sky News reported. The incident took place in Nawzad district in Helmand province late Saturday.   »

IGNOU student ranks seventh in UPSC exams

A 21-year-old post graduate student of the Indira Gandhi National Open University (IGNOU) has secured the seventh rank in the Civil Services 2010 examination  »


Picture of the Day

The Prime Minister, Dr. Manmohan Singh addressing the Joint Session of Ethiopian Parliament, in Addis Ababa, Ethiopia on May 26, 2011.



RSS  |  Contact us

| Quick links



Subscribe to

Ummid Assistant






About us




Government Schemes










Contact us





      Disclaimer | Terms of Use | Advertise with us | Link Exchange is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

© 2010 Awaz Multimedia & Publications. All rights reserved.