Economy to grow at 9%: UN body
New Delhi: Despite global slowdown, the Indian economy will continue to grow at 9% in 2008-09, said UN economic and social commission for Asia and the Pacific (UN-ESCAP) survey released on Thursday. “India’s economy has entered into a ‘new phase of high growth’, with expansion of 9% forecast for 2008, buoyed by investment and savings amid increasing productive capacity,” said the report. Indian economy is expected to grow by 8.7% during 2007-08 but many think-tanks expect moderation in growth in the coming fiscal. The survey released by commerce and industry minister Kamal Nath, also said, ‘‘India could achieve and sustain a 10% growth rate by further improving the country’s business environment, by developing its physical infrastructure and human capital’’.