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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
Saturday, Jun 28
01:00 CFTC S&P 500 NC Net Positions 1 $-144.8K $-174.1K
01:00 CFTC Oil NC Net Positions 1 233K 231K
01:00 CFTC Gold NC Net Positions 1 $195.0K $200.6K
01:00 CFTC GBP NC Net Positions 1 £34.4K £42.9K
02:00 Bank Stress Test Results 3
Monday, Jun 30
06:30 ANZ Activity Outlook 1 34.8
06:30 ANZ Business Confidence 1 36.6
06:30 TD-MI Inflation Gauge (MoM) 1 -0.4%
06:30 TD-MI Inflation Gauge (YoY) 2 2.6%
07:00 Private Sector Credit (MoM) 1 0.7% 0.7%
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