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Growth of the Indian economy is expected to slow to 8% in 2007-08, from 9.2% in the current fiscal, according to the Asian Development Bank Outlook 2007. “A soft landing is a likely outcome,” said ADB chief economist Ifzal Ali, adding that India’s GDP would again pick up speed in 2008-09 and grow at 8.3%.

 

 

Monetary tightening to contain overheating as well as inadequate infrastructure is likely to slow down India’s growth to moderate 8 per cent next fiscal against the expected 9.2 per cent, the Asian Development Bank (ADB) has forecast.

 

In a report, ‘Asian Development Outlook’ released on Tuesday, the multi-lateral agency said the economic growth will again pick up in 2008-09 to stand at 8.3 per cent. The situation could have been worse if the Government had not taken fiscal consolidation measures, Narhari Rao, ADB Chief Economist in India, told reporters.

 

Even at the current pace of infrastructure, the economy could expand at 8 per cent, but nine per cent and double-digit growth requires infrastructure to expand at a much faster rate, he said.

 

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