ADB downgrades India&#39;s growth forecast to 6.5 percent
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NEW DELHI: Hit by high crude oil prices and poor monsoon, India&#39;s economic growth is expected to slow down to 6.5 percent in 2004-05 fiscal, an Asian Development Bank (ADB) report said on Wednesday.
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The Indian central bank warns that drought and the high global price of oil may force it to lower its GDP forecasts.
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The Indian economy is likely to be in the grip of inflationary pressures in the coming months even as its growth slows down, according to projections issued by the Reserve Bank of India.
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MUMBAI, OCTOBER 26: Government bonds fell across the board, mainly in the short to medium tenures on a knee-jerk reaction to the raising of the inflation estimate to 6.5 per cent and a 0.25 per cent hike in the repo rate to 4.75 per cent by the Reserve
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While keeping the interest rates unchanged, RBI has reduced the GDP forecast for financial year 2005 from 6.5 per cent to 7 per cent.
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Semiconductor sales were originally expected to rise by 6.4% over 2006 levels, according to a new study from Gartner, but now are expected to grow by only 2.5%.
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India's industrial production growth slowed to a 6.2 percent pace in October, its lowest growth rate in 10 months, the government said Tuesday.
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Market researcher IDC expects growth  in the global market for mobile phones to slow to single digits  from this year onwards after unit sales rose 11.6 percent last  quarter, it said in a statement on Friday.
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Vodafone Group PLC saw a 6 percent increase in revenue and reduced losses for the year to March 31, but revenue and profitability in some of its core European mobile phone markets is shrinking. The changes are forcing the company to look to new markets for growth.
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Turnover decreased by 5.2pc on the year in the six month period, primarily due to lower sales in the Agricultural and other trading sector.
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Ha Noi (VNA) - In its report &quot;Asian Development Outlook 2004&quot; released on Sept. 22, the Asian Development Bank (ADB) predicts that developing Asia is likely to sustain its economic growth rate at 7 percent
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The global mobile phone marketis expected to see a slow down in market growth due to the lack ofadditional catalysts, US high tech market research firm IDC warnedon Tuesday.
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India's economy is expected to expand by 6.9 percent in the fiscal year ending in March, down from the previous year's record growth of 8.5 percent, the government said Monday.
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[Business India]: Mumbai, Dec 27 : India&#39;s benchmark share market index finished at a new all-time high Monday, crossing the 6,500-mark for the first time as stocks of blue-chip Reliance Industries ended lower in highly volatile trade.
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THE ASIAN Development Bank (ADB) said it has raised its GDP growth forecast for China to 8.8 percent from 8.3 percent, but slightly scaled down next year&#39;s projection for the world&#39;s fastest-growing economy to 8.0 percent from 8.2 percent.
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The Organization for Economic Cooperation and Development revised down Tuesday its growth forecast for the United States this year.
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Business productivity growth was  revised down sharply as expected in the fourth quarter to an  annualized 1.6 percent pace, government data on Tuesday showed,  in a warning on inflation as labor costs soared.