CMIE projects India's FY'12 real GDP growth at 8.8 per cent
21 Mar 2011
The Indian economy is set for a robust performance in the 2011-12 financial year with real GDP growth of 8.8 per cent, the Centre for Monitoring Indian Economy (CMIE) said in a report released today.
The Indian economy is expected to close the current financial year with an average 9.2 per cent growth, CMIE said in its projection.
"We project that real GDP will grow by 8.8 per cent during the fiscal, " CMIE said in its report.
The agriculture sector is projected to grow 3.8 per cent, the industrial sector by 9.4 per cent and the services sector by 9.9 per cent, according to CMIE.
Foodgrain production in the country is expected to grow 3.7 per cent and touch a record 236.9 million tonnes, assuming that the monsoon does not play spoilsport.
Foodgrain production will be boosted by higher output of rice and wheat, which in turn will raise the levels of disposable incomes, CMIE said.
