Will The Indian Economy Soar High?


The important factors that could bring certain upside or downside risks to these growth estimates are Fiscal deficit management by government; policy reforms helping investment outlook and rural wedge growth. India’s growth forecast for current financial year was increased by 5.4 to 5.1 percent by Morgan Stanley which was better than expected GDP growth in the September quarter and stabilization in non-agriculture growth indicators.

The pluming Indian economy has also helped the IT sector to maintain its consistency in the global market. The IT sector provides a big platform for employment. With IT hotshots like Infosys, Cognizant, Wipro, Tata Consultancy Services, Accenture and several other IT firms working in major Indian cities there is no lack of job opportunity for software professionals.

A large number of general stream graduates are also hired by the BPO and KPO firms. All the befalling options the overall purchasing capability of Indians has increased over the years. Over all there is no dilemma about the fact that IT industry has been a boon in boosting Indian economy.

"In 2030 India could be the rising economic powerhouse that China is seen to be today. China's current economic growth rate - 8 to 10 per cent - will probably be a distant memory by 2030," said the fifth installment of the 'Global Trends 2030: Alternative Worlds', of National Intelligence Council (NIC), released on December 10. The U.S. intelligence also predicted that India could be the economic power house of the world as China is at present.

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