India GDP to grow 8.7% in FY 2008

Indian economy, one of the world’s fastest growing economy is likely to grow at a moderate rate of 8.7 % during the current fiscal as against 9.6 % during 2006-07, which was the highest in previous 18 years.

The estimated growth rate is slightly higher than the RBI projection of 8.5 %.

Earlier Indian Finance Minister P Chidambaram said “India should aim to grow at over 9% “