Welcome to jimtrade
Sign In | Join Free
 
in
Home > Trade News > Crisil projects higher GDP growth
Crisil projects higher GDP growth
 
Crisil projects higher GDP growth
Crisil projects an overall GDP growth rate of 7% in FY06 a tad higher than last years 6.9%. Indias growth performance has been quite impressive since FY04. The high light of the recent surge growth has been resilience of the non-agricultural sector, which recorded an average growth of 8.1% between FY03 AND FY05. The resilence of the industry within non-agricultural sector is evident from the fact that it has consistently improved its growth performance since FY03 despite poor monsoons and high crude prices. Afloated by 9.2% growth in the manufacturing sector , the overall G.D.P grew at 7.7% in FY05. If the economy continues with its growth momentum during FY06, THEN Indias GDP growth average will exceed 7% for a continuous three year period a feat achieved before only during FY95 to FY97. Crisil expects deficient rainfall will accentuate the adverse impact as august and september rains are vital for crop development.Chief economist of Crisil Dr Subir Gokarn said"One saving grace of the distorted pattern of rainfall has been that poor rainfall during august was primarily confined to the Northern states which are comparatively well - irrigated. If it rains sufficiently during september it would provide sufficient sub soil moisture to the land and improve the rabi crop prospects. For 2005-06 we expect agricultural GDP to grow at 2.5%." High oil prices and volatility in agriculture have failed to mute the buoyancy in the manufacturing sector. The overall industry registered a growth of 9.4% with the manufacturing sector growing at a healthy 10.4%. Growth is supported by healthy demand for both the domestic and external sectors.
Posted On : 9/29/2005 3:46:50 PM

 
 
 
Crisil projects higher GDP growth