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Tuesday, April 27, 2010

Economy of India to grow at 8.3 percent

Assuming a normal monsoon, we expect GDP growth to surge 8.3 per cent during the financial year 2010-11, driven by robust industrial growth and resilient performance of the service sector," D&B said in a report.

Besides, it said that rise in consumption demand is likely to contribute majorly to the economic growth and help augment investments.

Healthy income levels on account of faster pace of job creation as well as broadening of tax slabs -- as proposed in this year's Union Budget -- will create higher disposable income with consumers, driving up demand.