Economy to grow by 8.9%, says NCAER
Economic think tank NCAER on Tuesday forecasted the Indian economy to grow by 8.5 to 8.9% during 2008-09, despite a slowdown in global economic growth and rising commodity prices. "While the GDP growth in the base case is projected to be 8.5%, in the more comprehensive case, GDP growth is projected at 8.9%,' the latest quarterly review of the economy by NCAER said. The short-term prospects are less attractive than a year earlier despite the fundamentals of growth remaining intact, it said.