Home
Finance Resources
Investment Planning
Banking
Finance
Stock Market
Futures & Options
Trading
Mutual Funds
Insurance
Taxation
Enquire
Home » Finance Current Affairs » Nomura cuts India's growth forecast to 6%

Nomura cuts India's growth forecast to 6%

Current Affairs

Mumbai: India's economic growth could slow to 6 percent from 6.3 percent in 2009/10 dragged by contraction in agricultural growth, Nomura said in a recent note.

The government expects Asia's third largest economy to expand by 6.3 percent in the current fiscal year and the central bank sees it growing by 6 percent with an upward bias.

Nomura cut its 2009/10 agriculture gross domestic product (GDP) growth forecast to 2.2 percent from 3.5 percent due to deficient monsoon rains.

"Uncertainty still prevails about the extent of the crop damage and the monsoon season is not over until end-September, so we are reluctant to implement a larger downgrade at this stage, but are mindful that the risks are still on the downside," economist Sonal Varma wrote.

The note also said the impact of the deficient monsoon on agriculture GDP will be visible from the third quarter of 2009 when summer harvesting begins.

However, Nomura said it sees a recovery in manufacturing and consumption sectors.

It raised its industrial GDP growth forecast to 7.3 percent from 4.9 percent and services to 7.9 percent from 7.8 percent earlier.

Hence it has upgraded its 2010/11 growth forecast to 8 percent from 7.5 percent seen earlier.

Last week Morgan Stanley also cut its 2009/10 growth forecast to 5.8 percent from 6.4 percent earlier in anticipation of a drop in agricultural output.



More Current Affairs
1 2 3 4 5 6 7 8 9 10 11 >> Next


put comment
Domain Registration | Windows Hosting | Linux Hosting | Java Hosting | Virtual Dedicated Server | Dedicated Server | Reseller Web Hosting | Unlimited Windows reseller hosting | Unlimited Linux reseller hosting | Cheap Windows reseller hosting | Cheap Linux reseller hosting | Cheap Windows hosting | Best Windows hosting | Windows hosting Multiple Domains | Unlimited Windows hosting | Compare hosting plans | Cheap Linux hosting | Best Linux hosting | Linux hosting Multiple Domains | Unlimited Linux hosting | Cheap asp.net hosting | Best asp.net hosting | unlimited asp.net hosting | Cheap asp.net reseller hosting | Unlimited asp.net reseller hosting | Java Features | Cheap Java hosting | Best Java hosting | unlimited Java Hosting | Unlimited Linux reseller hosting | Java Hosting Multiple Domains| | Matargashti Full Song | Matargashti mp3 Download | Matargashti Video Download | Matargashti Song Tamasha | Prem Ratan Dhan Payo Songs Download | Prem Ratan Dhan Payo Songs mp3 Download | Prem Ratan Dhan Payo Songs Video Download | Pinga Song Download | Pinga Full Song mp3 Download | Pinga Song mp3 Download | Pinga Song Video Download | Latest Bollywood Updates | Bollywood Updates | Prem Ratan Dhan Paayo Songs Download|
© ProfitGuruOnline-2024. All Rights Reserved.