ADB pegs India GDP growth at 8.2 per cent

In its report, ‘The Asian Development Outlook 2010,’ ADB, while noting that the rising price pressures present a challenge to policy makers in the country, said: “India’s rebound from the global crisis is set to accelerate in 2010, with estimated growth of 8.2 per cent,”  While Central Statistical Organisation (CSO) — the official statistical body — has estimated a minimum growth rate of 7.2 per cent in 2009-10 the government is optimistic of more than 8 per cent growth rate in the current fiscal 2010-11.

It also pointed out that the economy will expand by 8.7 per cent in 2011, as India’s rebound from the global crisis is set to accelerate in 2010.

Stimulus withdrawal

Further, ADB said the stimulus measures would be gradually rolled back and cautioned that the positive developments could be offset by signs of increasing inflation following a poor summer, monsoon and floods. It expects the 2010 annual inflation to be at five per cent and rise further to 5.5 per cent in 2011.