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India likely to miss growth target for the current fiscal
March 13, 2009: India is likely to miss the Reserve Bank of India’s (RBIs) seven per cent growth estimate for the current fiscal due to the ongoing global economic crisis.
According to the sources, the next fiscal period of 2009-10 will be a more challenging year as far as our economy is concerned. Asia’s third-largest economy expanded 5.3 per cent in the December quarter from a year earlier, its slowest pace in almost six years. It had been growing at rates of 9 per cent or higher in the past three fiscal years.
Source: Business Standard