Tuesday 1 June 2010


GROWTH IN INDIA RISES DESPITE EU DEBT WOES
Rate hike pressure grows with inflation nearing 10%

Kartik Goyal

Business Report, June 1, 2010

India's economic growth has accelerated, adding pressure on the central bank to raise interest rates, even as Europe's sovereign debt crunch threatens the global recovery.

Gross domestic product (GDP) rose 8.6 percent in the first quarter from a year earlier after a revised 6.5 percent gain in the previous quarter, the statistics office said yesterday. The expansion matched the median estimate in a Bloomberg survey of 22 economists.

India and China, the fastest-growing major economies, are weighing the risk of Europe's debt crisis reducing demand in the EU, which accounts for a fifth of their exports. India's room to pause on monetary tightening is limited because its benchmark inflation rate is more than triple that of China.

(...) [artículo aquí]

No comments: