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Strategies & Market Trends : India Stocks

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From: LoneClone	7/26/2009 9:58:13 AM
	of 2517

Macroeconomic indicators - Indian FM optimistic of 9pct GDP Sunday, 26 Jul 2009 steelguru.com Indian finance minister Mr Pranab Mukherjee said that India would be back in the 9% growth trajectory in the next one and a half years as a result of stimulus measures announced by the government. Mr Mukherjee told a gathering of industry captains in Goa that "There are certain economic measures taken which will start showing their results in the next one and a half years. Over this period, we will be able to come back to the 9% GDP growth.” Mr Mukherjee said that the government has injected substantial money into the system that will start showing the results in months to come. Reminding of the two stimulus packages offered by the Centre in December-January soon after the world leaders summit and subsequent package after the interim Budget, Mr Mukherjee said that INR 186,000 crore have been injected into the economy. He said that "These methods have already started yielding results and we have been able to arrest further deterioration of the economic situation.” He stated that the results are already visible on certain sectors like manufacturing units whose growth is slow but steady and fields like mobile telephones which are improving. He added that "Full picture will be clear only in September, this year.” Explaining how India's economy has faced fragile situation in the past, Mr Mukherjee said that from 1951 to 1971, the country's growth rate was 3.5% average which went up to 5.2% in 1980s. Early 90s saw 9.6% which was later affected due to world economic slowdown.

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