India is well set to go back to 8. 5 per cent growth in the next fiscal year a top policy adviser said on Friday
India's plans to ramp up spending this fiscal year threatens to backfire.
inflation is expected to be between 2and minus 2 %in the fiscal 2010
India's economy would be "significantly worse" in 2009.
The government said on Sunday it planned $4 billion of extra spending.
The share of textiles in the total exports of the country declined to 13.5%.
Strong domestic demand is likely to push up the private corporate investments in the current financial year but in a slower-pace owing to deceleration in global and domestic economies.
Economy is expected to grow 7.7 percent in the fiscal year ending March 2009, and a tight monetary stance is necessary to bring down inflation to 8-9 percent by March 2009.
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