New Delhi: The mid-year economic review paints a grim picture for India in the coming months. The report says growth will be only around seven per cent in financial year 2009.
The panel says that there are signs of slowdown in growth across all sectors but fall in commodity prices is likely to offset the impact of falling exports.
Also Foreign Direct Investment will continue despite a slowdown in growth and inflation will continue its downward trend.
The Government says they expect an additional fiscal stimulus at two per cent of GDP in the financial year 2009.
The Government assures the job losses due to global financial crisis will be limited in India.
The report says pending reform measures must be given a push, for growth to resume the 8.5 to nine per cent trajectory in the long run.
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