Macroeconomic indicators - India GDP to grow by 9pct - CMIE - 201933 - 2011-04-25

According to a leading economic think tank India's GDP is likely to grow at a brisk pace of 8.8% in 2011-2012.

The Centre for Monitoring Indian Economy said that domestic environment is conducive for growth and private financial consumption expenditure is projected to grow by a healthy 7.5% and gross fixed capital formation by 14.6%.

According to CMIE the performance of the economy in FY 2011 has been robust and real GDP is estimated to have grown by 9% during the fiscal. This has been powered by a rebound in the agricultural sector following the drought in 2009-2010.
In FY 2012 the agricultural and allied sector is projected to grow by 3.1% on top of the 5.1% growth estimated in 2010-2011. CMIE anticipates the industrial sector including construction to grow by 9.4% during 2011-2012 against 8.5% estimated in 2010-2011.