Economy will move on to close to 9% growth in FY10

01 Jun '10

1 min read

Reacting on GDP figure of fiscal 200-2010, ASSOCHAM President Dr. Swati Piramal said that 7.4% GDP growth was on expected lines as Indian economy has started doing well, especially from November 2010 onwards.

The last quarter of fiscal 2009-2010, registered a growth rate of 8.5% was encouraging enough to fill in hopes that Indian Economy will move on to close to 9% growth in current fiscal.

The ASSOCHAM is optimistic that enough funds should be made available for infrastructure sector so that all key six core industries substantially contribute to GDP growth of close to 9% for current fiscal, said Dr. Piramal.

The Chamber said that further liberliasation in FDIs policies as well as changes in tax structure with GST in place as promised will help Indian Industry grow faster with higher manufacturing pace to push up the GDP of Indian Economy as projected to close to 9%.

Euro crisis as of now do not pose much of challenge to Indian Economy but if they spread beyond a point, India's external engagements could suffer but it is sure that the current growth movemental will be maintained said Dr, Piramal.

The Associated Chambers of Commerce and Industry of India

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