The Indian economy would continue to clock a robust over 9 per cent growth in FY09, the Centre for Monitoring Indian Economy (CMIE) said in its monthly report here today.
“We had predicted a growth of 9.1 per cent in our first forecast in February, which was revised up to 9.5 per cent in June. We now believe that the economy would grow by 9.4 per cent in FY09,” CMIE said.
This marginal change is because of a downward revision in its estimate of the growth of the industrial sector, it said.
The CMIE had predicted a growth of 11.4 per cent in industry. However, following a slowdown in the output of a few industries, “we now believe that the industrial sector would grow by 11.1 per cent and not 11.4 per cent as predicted earlier,” the report said.
Prominent industries that have warranted a decline were cement, sugar, glassware and milk powder, it added.