Forecasters have revised their projections for GDP growth in the current financial year to 8.5 per cent from the earlier estimate of 8.4 per cent, according to an RBI survey.
“Forecasters have revised their real GDP growth rate forecasts to 8.5 per cent in 2010-11, from 8.4 per cent in the last survey, driven by increased agricultural surge and growth in services in the subsequent quarters,” according to RBI’s 13th Round of professional forecasters report.
Clarifying the survey did not represent RBI’s views, the central bank said forecasters had also pegged inflation at 6-6.9 per cent by the end of this financial year, against RBI’s projection of 5.5 per cent.