CMIE sees lower GDP, farm growth

CMIE sees lower GDP, farm growth

MUMBAI: The Centre for Monitoring Indian Economy on Monday lowered its forecast for India's GDP growth to 5.0 per cent in 1999/2000 (April-March) from its earlier forecast of 5.1 per cent due to a weaker than expected agricultural performance. India's GDP grew 5.8 per cent in 1998/99.

In its January report, the independent forecaster lowered its estimates for agriculture to a 1.2 per cent drop in 1999/2000, from earlier forecast of a 1 per cent fall and compared with a 6.6% growth in 1998/99. It left projections for growth rates in industry and services unchanged at 6 and 8 per cent respectively.