Macroeconomic Forecast India

India posted growth of 5.8% y-o-y in both Q408 and Q109, which brought full-year growth in FY2008/09 (April-March) to 6.7%, the weakest reading since FY2002/03, but still to be considered healthy in the current environment. We have revised up our GDP growth forecast for FY2009/10 from 5.0% to 6.1% on the back of upward revisions to projections for private consumption and gross fixed capital formation.

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