Indian Economy To Grow 7.1% In FY10- PMEAC Chief

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11:15 GMT

Feb 2009

Indian Economy To Grow 7.1% In FY10- PMEAC Chief

(RTTNews) - The Indian Prime Minister’s Economic Advisory Council Chairman, Suresh Tendulkar said that India’s economy would grow 7.1% in the next fiscal and it may witness a period of low interest rate, reported the PTI. He said that the growth in the first half of the year would be weak and is expected to pick up in the second half of the year.

Tendulkar reportedly said that the asset quality in the Indian Banking system may worsen on the back of global meltdown but however added that compared to other economies, Indian banking system is well regulated and is in a better position.

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