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    UBS will revise India’s GDP forecast for 2010 from the previous 8.9% to 9.5%.

    Swiss brokerage firm UBS Securities raised India’s growth forecast for this year from 8.9% in September to 9.5% due to faster-than-expected recovery, increased consumer confidence, and the resulting surge in spending. It has been revised upward. In addition, the economic clipping from 2022 to 2011 was 7.7%, but it settled at 6% in the next fiscal year.

    The benefits of the low interest rate system will end by the end of FY2011, and the central bank’s interest rate hike policy rate is expected to rise by 50 bps in the second half of next year, and is expected to ease.

    The Reserve Bank of India also forecasts GDP growth of 9.5% this year, with an average forecast in the range of 8.5 to 10%. The government forecast is about 10 percent.

    Swiss brokerage firm UBS Securities raised India’s growth forecast for this year from 8.9% in September to 9.5% due to faster-than-expected recovery, increased consumer confidence, and the resulting surge in spending. It has been revised upward. In addition, 7.7% economic clipping will be seen in the 2022-23 fiscal year (23rd fiscal year), but it will settle to 6% in the next fiscal year.

    UBS said in a September review that real gross domestic product (GDP) fell 12.4% in the June quarter from minus 26% in the year-ago quarter on a seasonally adjusted sequential basis. GDP grew by 20.1 percent in the June quarter of 2010.

    According to Tanvee Gupta Jain, Chief Economist at UBS Securities India, the economy is recovering with a gradual resumption, and the recovery from the second wave was more pronounced than the company expected.

    Without revealing exact numbers, she told reporters in a conference call that the economy grew 9-10% in the third quarter and 6-6.5% in the fourth quarter of the year, with high overall growth rates throughout the year. He said it would be. For media coverage in India.

    Gupta-Jain believes that fixed investment, especially infrastructure spending, manufacturing and exports, will be the next major growth drivers from 2010 onwards.

    Inflation is expected to slow from 5.4% in FY2010 to 4.8% in FY2011, assuming the RBI has begun to gradually unravel the ultra-easy policy as the economic recovery momentum increases. There is. In the basic scenario, she expects a 50bps increase in the policy rate in the second half of 2011.

    On the financial side, the government continues to work on fiscal consolidation and expects to reduce the deficit from 10.1% in FY2010 to 8.8% in FY2011.

    Fiber2Fashion News Desk (DS)

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    UBS will revise India’s GDP forecast for 2010 from the previous 8.9% to 9.5%.

    Source link UBS will revise India’s GDP forecast for 2010 from the previous 8.9% to 9.5%.

    The post UBS will revise India’s GDP forecast for 2010 from the previous 8.9% to 9.5%. appeared first on Eminetra.

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