labels: economy - general
Indian economy expected to grow at 9 pc in 2007 news
19 April 2007

New Delhi: The Indian economy is expected to grow by 9.0 per cent in 2007 as against 9.2 per cent in the previous year despite concerns of overheating, rising rupee and slowdown in US, according to a report by the United Nations.

Aiding India's growth will be low oil prices, control on inflation and lesser reliance of its economy on exports, the UN Economic and Social Survey of Asia and the Pacific said.

The report also said despite prospects of good growth, the Indian economy was overheating and the surplus in balance of payments was not there to provide cushion from external shocks.

It said even though oil prices were expected to be USD 60 per barrel as against USD 65 per barrel in 2006, inflation in India would come down to 5.0 per cent this year from 6.0 per cent. Additionally while the US slowdown and uncertainty over sustainability of Japan's revival would represent a downside for other economies of Asia-Pacific, India would be isolated as its economy was less dependent on exports.

 


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Indian economy expected to grow at 9 pc in 2007