GDP growth will slow down to 8.7% for 2007-08

The Economic Survey tabled by the Finance Minister today said that, GDP growth would slow down to 8.7% for the year 2007-08 compared to 9.6 percent last year.

The survey also pointed out that inflationary impact on flow of foreign funds, slowdown in the United States Economy, appreciation of rupee and sluggish infrastructure sector are the major challenges before India's economy, which has slowed down the growth rate of Gross Domestic Product.

The survey has also put a target rate of 9% growth in Gross Domestic Product during 11th plan period. Inflation is projected at 4.4 percent in the current fiscal.

Both slow growth in Agriculture and manufacturing sector is being forecasted during the current fiscal.

Major Business News from India during 2009 Possible Impact of Telangana on Business in Andhra Pradesh Bajaj Scooters to fade away from Indian roads Highlights on Economic Survey of India 2008-09 India's inflation slowed to a 13-week low of 11.99 percent Infosys Acquires Axon Tesco Makes Foray into Indian Market US billionaire pumps in $80 million for cash strapped SpiceJet SBI raises PLR to 12.75% RBI raise the Cash Reserve Ratio (CRR) to 8.75 percent Fuel to burn hole in common men's pocket - Petrol up by ` 5, diesel ` 3 a litre; LPG dearer by ` 50 Inflation touched 9%; Audi launch its A4 Sedan in July in India; BSE down by 250 points Papa John's Plans Expansion In India Infosys Records Net Profits of ` 4,659 Crores Prices Of Essential Drugs Expected To Fall India's Union Budget 2008-09 is Agri-Friendly Increase in Tax Exemption limit in Union Budget 2008-09 Economic Survey Report (2007 - 2008): Focus on FDI. Economic Survey Report 2007-2008: Inflation. Economic Survey Report 2007-2008: Exports. GDP growth will slow down to 8.7% for 2007-08. Economic Survey for 2007-08: Major Highlights on Fiscal Deficit "Cheap Fares and Record Cash Surplus" are Core of Railway Budget 2008. US Recession is Likely to hit Global IT Industry including India's Outsourcing Companies. BSE Benchmark Sensex up by 1103 points. Ratan Tata Unvieled ` 1 Lakh Car at the 9th Auto Expo in New Delhi Reliance Power Ltd is to Raise up to $ 2.9 bln in IPO CRR Hiked But Stalemate Continues in Rates India's Direct Tax Collection Grew By 41.2%. Indian Economy Experiences a Sustainable Growth Rate Investors Welcome Extended Trading Hours in Indian Bourses World Economic Forum Davos