GDP may rise 7% in FY09 - Govt official

27 Feb 2009 | 15:28 GDP may rise 7% in FY09 - Govt official
Expected stronger growth in the January-March quarter will help push India's full fiscal year economic expansion close to 7%, Economic Affairs Secretary Ashok Chawla said on Friday, 27 February 2009.

Data released on Friday showed the economy grew a slower than expected 5.3% in Q3 December 2008 over Q3 December 2007, slowing sharply from 7.6% in Q2 September 2008 as the global economic crisis cut demand and exports.

Ashok Chawla further added that the 5.3% growth is broadly in line with expectation. Generally the fourth-quarter contribution to gross domestic product (GDP) growth is normally better.

Chawla said that the fourth quarter is expected to show robust growth, which will add up close to 7% for the whole year.

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