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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Nandu who wrote (2979)	10/6/1998 12:36:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

India sees 6.5% GDP growth in fiscal 1998/99 Anil: Here is some good news about India,I wish it was in double digits but hey I take anything I can get. =========================================== Tuesday October 6, 12:17 pm Eastern Time India finance minister sees 6.5 pct growth 1998/99 WASHINGTON, Oct 6 (Reuters) - Indian Finance Minister Yashwant Sinha said on Tuesday that his country's economy has weathered through U.S. economic sanctions and was on target for growth of 6.5 percent in 1998/99 despite global pressures. ''Whatever the impact of sanctions has come and gone,'' Sinha told Reuters Television during meetings of the International Monetary Fund and the World Bank. In the last 12 months India has suffered the fall of one minority coalition, election of another, rating agency downgrades, withdrawal of World Bank assistance and imposition of U.S. economic sanctions in response to its nuclear tests. But India's economy has remained strong. ''India has been saved from the meltdown largely because of good management of the economy and especially fiscal and monetary policies,'' Sinha said. ''There are already signs that industrial production is picking up...and therefore I'm hopeful that we shall achieve the rate of growth of 6.5 percent,'' Sinha said. biz.yahoo.com