The Centre for Monitoring Indian Economy (CMIE) has once again revised its GDP growth forecast for the current fiscal to 6.7 per cent from 6.2 per cent announced last month.
The upward revision in GDP projection by the Centre for Monitoring Indian Economy (CMIE) in its latest report, has been attributed to less damage to smaller crop than anticipated earlier.
“Real GDP growth for 2009-10 is revised upwards to 6.7 per cent from a 6.2 per cent growth projected in the previous month (November),” CMIE said in its report.
The sharp revision was warranted because of less damage to smaller crop than anticipated earlier, it said, adding the performance of the industrial sector too further improved in September.
“Industrial sector growth is expected to remain healthy in the remaining months of the fiscal,” CMIE said.
The real GDP in the first-half of the current fiscal clocked a growth better-than-expected at seven per cent as against a 5.8 per cent growth registered during H2 FY 09.
“The growth in the current year, however, was lower than the 7.8 per cent recorded in the first half of 2008-09,” it said.