India's growth to moderate
India's economic growth is on track to accelerate in 2010/11 on the back of monsoon rains but expectations for growth in the following year have moderated slightly, a quarterly Reuters poll shows.
Analysts raised their expectations for how far the Reserve Bank will lift rates in the fiscal year to the end of March 2011, reflecting signs that demand pressures, especially for consumer durables, are building in Asia's third-biggest economy.
A survey of 21 economists produced a median forecast that the economy would grow 8.4 percent in the year ending March 2011, unchanged from a similar poll conducted in July and up from growth in 2009/10 of 7.4 percent.
They projected growth of 8.3 percent in 2011/12, slightly below 8.5 percent forecast in July.
"Rising cost pressures and global uncertainties are likely to have a sobering impact on India's growth momentum," said Rupa Rege Nitsure, chief economist at Bank of Baroda.
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