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India could grow 8.5-9.5% in medium term: UN

India could grow 8.5-9.5% in medium term: UN
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First Published: Thu, Mar 27 2008. 06 06 PM IST
Updated: Thu, Mar 27 2008. 06 06 PM IST
New Delhi: India’s economy could grow 8.5-9.5% over the medium term but price pressures may persist due to high global oil and food prices, a United Nations panel said in a report released on Thursday.
”The sustained expansion of the Indian economy would see growth at between 8.5-9.5% over the medium term following growth of 8.7% in 2007,” the U.N. Economic and Social Commission for Asia and the Pacific (UNESCAP) said.
”UNESCAP expects inflation at 5% for 2008.”
India’s widely watched wholesale price inflation inched close to 6% in early March, above the central bank’s comfort level of 5% percent.
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First Published: Thu, Mar 27 2008. 06 06 PM IST
More Topics: United Nations | India | Growth | Inflation | RBI |