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Economic Outlook
The Real Economy
Indian economic growth is likely to slow down in the year 2008-09 on the back of a slowdown in global economies and due to domestic factors such as rising inflation, high interest rates, slackening demand and slowing credit growth. The prime Minister’s Economic Advisory Council (EAC) has forecasted GDP growth to slow to 7.7% in FY09, a sharp deceleration from the 9% growth achieved in FY08 and from EAC’s own projections of 8.5% growth made in January 2008. 
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