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Barclays raises India’s FY10 GDP forecast to 7.2%

Barclays raises India’s FY10 GDP forecast to 7.2%
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First Published: Thu, Jun 04 2009. 04 38 PM IST
Updated: Thu, Jun 04 2009. 04 38 PM IST
Mumbai: Barclays Capital on Thursday raised India’s growth forecast for the 2009-10 fiscal year to 7.2% from 5.5%, led by investments.
The Reserve Bank of India (RBI) expects 2009-10 growth to be about 6%.
Barclays said in a note it expects the Asia’s third largest economy to expand 7.5% in 2010-11 from 6% forecast earlier.
In the 2008-09 fiscal, India’s economy grew 6.7%, its weakest in six years. In the previous three fiscal years, it grew at or more than 9%.
Barclays said it expects the RBI to move from a loose monetary policy to a neutral stance in late third quarter of 2009 or early fourth quarter.
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First Published: Thu, Jun 04 2009. 04 38 PM IST
More Topics: Economy | GDP | India | Barclays | RBI |