Rediff.com  » Business » S&P sees India's GDP growth at about 6% in '09

S&P sees India's GDP growth at about 6% in '09

Source: PTI
March 13, 2009 15:39 IST
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Global rating agency Standard & Poor's said on Friday it expects India's economic growth to slow down to about 6 per cent in the calendar year 2009.

"Standard & Poor's estimates India's real GDP growth will slow to about 6 per cent in 2009 from roughly 8 per cent over the past five years," the agency said in a statement.

Further, the agency said it expects signs of a pick-up to emerge in the second half of the year.

"The commentary believes domestic demand, though slowing, and India's high savings should continue to play a key role in financing the country's growth," S&P said.

The Indian government views GDP growth at 7.1 per cent in the current financial year 2008-09.

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