CMIE raises India’s growth forecast to 6%

CMIE raises India’s growth forecast to 6%

New Delhi: The Centre for Monitoring Indian Economy (CMIE) has raised its forecast on India’s gross domestic product in the current fiscal year to 6% from the 5.8% projected earlier.

“This (upward revision) is because the industrial sector is projected to grow 6.5% and the services sector by 8.5%," the independent think tank said. CMIE had earlier projected industrial sector growth at 4.8% in 2009-10. CMIE’s projection is on a par with the Reserve Bank of India’s forecast of 6% growth with an upward bias.

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