India’s GDP to grow 6%: Amartya Sen

The Nobel Laureate Amartya Sen expects that India's GDP growth is likely to drop to 6 per cent during this fiscal year. As Indian economy is reeling under the pressure of global financial crisis.

The global financial crisis would have heavy impact on the India economy. The government has been trying various measures to minimise the damage due to the global slowdown. The government has declared fist bail out package and would declare another package to cover other sectors.

The India economy is under tremendous pressure and the Indian Industrial Output has drooped by negative for the first time for 15 years. There is need to pay attention towards the industrial output which is drooped to lowest level in the third quarter due to the low demand forces.

Once, it was speculated that the during 2008-09, India's GDP rate would grow to double digit. But there is a slide in the GDP rate, and the performance of the fourth quarter would be important to determine the over all GDP rate in this current fiscal.