Global financial major Citigroup has projected that Indian economy would grow at 6.8 per cent in the current fiscal riding on higher investment flow. Revising upwards its earlier forecast which had said growth would be 5.5 per cent in 2009-10,Citigroup,however,added that any further delay in monsoon would have implications on economic growth,inflation and the proposed food security act. "The upward revision is primarily due to higher investment growth where we believe the worst is over and the stage is now set for some recovery," it said. It has also upped its GDP forecast for the next fiscal from 6.6 per cent to 7.8 per cent. In a report on India's economy,Citigroup also revised its investment growth figure from 4 per cent to 9 per cent in FY 2010 and to 11.3 per cent in FY 2011 from 5.4 per cent. "A stable political environment,an improvement in investment climate,both domestic and global,and thawing credit markets bode well for investments," the report said.
