As per India economic forecast for 2009-10, in coming general election there would be a new coalition government at center. According to assumptions, Indian National Congress, which is administering India at present would find it hard to hold on to their present seat of power.
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According to economic forecast India, Indian national government would find it hard to adjust to effects of recession that is holding entire economic globe in it clutches. Reasons being, they do not have a proper economic backup plan and present fiscal policies are not firm enough to shore up Indian economy.
As a result of this financial crisis, Indian national government had to turn their economic policies upside down. There had been a deduction in rates of interest by 100 basis points and more is supposed to follow in financial year 2009.
There would be measures taken in India to minimize risks associated with global economic meltdown. It has been forecast that in financial year 2009-10, rate of growth of real gross domestic product of India would be 6.1 percent.
Indian economy has recently experienced a reversal in increase of prices of commodities. In spite of that there are chances of upward inflation and this would be harmful to Indian economy.
Value of Indian national rupee would increase and there would be more parity in its exchange rate statistics as far as United States dollar is concerned. There would, however, be a fall in financial year 2009, in value of Indian national rupee at a rate of 7.8 percent, when seen from a year-on-year perspective. On an average, in that financial year $1 would be worth INR 47.
Asian Development Bank's predictions on Indian economy
Asian Development Bank has opined that there would be growth of Indian economy in financial year 2009. Previously, it had predicted that rate of economic growth of India would be lesser in fiscal 2008 compared to fiscal 2007. Much of this situation in fiscal 2008 could be attributed to tightening of financial policies by Reserve Bank of India, which is apex body of Indian economics.
As a result of this financial crisis, Indian national government had to turn their economic policies upside down. There had been a deduction in rates of interest by 100 basis points and more is supposed to follow in financial year 2009.
There would be measures taken in India to minimize risks associated with global economic meltdown. It has been forecast that in financial year 2009-10, rate of growth of real gross domestic product of India would be 6.1 percent.
Indian economy has recently experienced a reversal in increase of prices of commodities. In spite of that there are chances of upward inflation and this would be harmful to Indian economy.
Value of Indian national rupee would increase and there would be more parity in its exchange rate statistics as far as United States dollar is concerned. There would, however, be a fall in financial year 2009, in value of Indian national rupee at a rate of 7.8 percent, when seen from a year-on-year perspective. On an average, in that financial year $1 would be worth INR 47.
Asian Development Bank's predictions on Indian economy
Asian Development Bank has opined that there would be growth of Indian economy in financial year 2009. Previously, it had predicted that rate of economic growth of India would be lesser in fiscal 2008 compared to fiscal 2007. Much of this situation in fiscal 2008 could be attributed to tightening of financial policies by Reserve Bank of India, which is apex body of Indian economics.
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