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Tuesday, February 3, 2009

India to grow in excess of 7 pct this FY - minister

The Indian economy will grow in excess of 7 percent in the current fiscal year, Trade Minister Kamal Nath said on Tuesday.

The global slowdown has hit key sectors of the Indian economy and growth is widely expected to slow to 7 percent or less in 2008/09.

The Reserve Bank of India (RBI) has cut its growth forecast to 7 percent with a downward bias from the previous 7.5-8.0 percent.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Apr 09
23:30 FOMC Minutes 3
Thursday, Apr 10
02:20 Fed's Hammack speech 2
03:00 Fed's Kashkari speech 2
04:31 RICS Housing Price Balance 1 2% 8% 11%
06:30 Consumer Inflation Expectations 2 4.2% 3.6%
15:30 RBA Governor Bullock speech 3
18:00 Initial Jobless Claims 2 223K 219K
18:00 Initial Jobless Claims 4-week average 1 223K
18:00 Continuing Jobless Claims 1 1.880M 1.903M
18:00 Building Permits (MoM) 1 -0.8% -3.2%
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