Will The Indian Economy Soar High?
Bangalore: The coming year’s Indian economy will be touching new heights; this can be assumed after Goldman Sachs, the Global investment Bank predicted that by 2013 Indian economy is likely to increase by 6.5 percent driven by suitable external demand and internal infrastructural reform push. Investment banking major research notes suggest that growth is about to take pace for about 7.2 percent in 2014.
"India in many ways remains the most complex of the four (BRIC nations), with its demographics giving it the best potential GDP growth rate, but its inability to introduce effective policy change is a persistent source of disappointment" Goldman Sachs Asset Management Chairman Jim O'Neill said, as quoted by Rediff.
In 2011, the economy grew by 5.5 percent in the June and 6.7 per cent in the quarter ended September. According to the global financial services firm, the headline GDP growth of India will be at 5.4 per cent in FY2013 (up from 5.1 per cent projected earlier) and 6.2 per cent (unchanged) in F2014.
"We believe that headline GDP growth will begin to show a gradual recovery trend in the quarter ending March 2013: We look for farm output to normalize and non-agriculture output to continue to improve, albeit slowly," the report said.
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