ADB sees India growing 8.2% in 2010 -Governance Now

ADB sees India growing 8.2% in 2010

Inflation would be the prime concern, however

GN Bureau | May 6, 2010

Jong-Wha Lee, ADB Chief Economist

Asian Development Bank (ADB) forecast on Tuesday a handsome 8.2 per cent GDP growth for India, but cautioned that policy makers will have to do a tight balancing act to protect growth from rising prices.

“India’s rebound from the global crisis is set to accelerate in 2010, with estimated growth of 8.2 per cent, although rising price pressures present a challenge to policy makers as they steer the economy’s recovery,” the ADB said in Asian Development Outlook 2010.

The bank observed that annual inflation in 2010 was seen to be five per cent, rising to 5.5 per cent in 2011.

To counter the trend in rising food prices and to strengthen agricultural output, which fell an estimated 0.2 per cent in 2009, will require a range of measures, including boosting farmgate prices, and addressing distribution, trade, research, and subsidy constraints.

The report suggested more government spending on infrastructure was needed.

The ADB estimated growth figure at 8.7 percent in 2011 is slightly below the Indian government's forecast of 9 percent.

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