Business News This Week
Minister of Commerce and Industry, Kamal Nath says the Indian economy will achieve growth rate of 7 to 7.5 per cent for the year 2008-09, despite the global meltdown. He also said that the economy is domestic demand driven.
He was speaking at a session entitled " Defying the Downturn: How rapidly developing economies are dealing with the global slowdown", organised by CII in cooperation with BCG, in Davos, on the sidelines of the Annual Meeting of the World Economic Forum.
It is expected that the economy will bail out from the gripe of the global turmoil. The growth prediction has been different by different groups. Earlier, RBI has also cuts it growth projection to 7 per cent. However, the stimulus package by the government helped industries and the third possible package would give more relief.
He was speaking at a session entitled " Defying the Downturn: How rapidly developing economies are dealing with the global slowdown", organised by CII in cooperation with BCG, in Davos, on the sidelines of the Annual Meeting of the World Economic Forum.
It is expected that the economy will bail out from the gripe of the global turmoil. The growth prediction has been different by different groups. Earlier, RBI has also cuts it growth projection to 7 per cent. However, the stimulus package by the government helped industries and the third possible package would give more relief.
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