India: Growth Reaccelerates as Slowdown Comes to an End

India’s economic growth slowed with the global economic crisis, but GDP is forecast to accelerate in 2010. The Indian economy is expected to grow 7% this year, compared with 6% in 2009, according to a recent report by the Asian Development Bank (ADB; Manila). “The [Indian] government’s strong fiscal stimulus, complementing the Reserve Bank of India’s aggressive monetary policy easing, has successfully brought last year’s economic slowdown to an end,” says Jong-Wha Lee, chief economist at ADB. Better rainfall, a rebound in...

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