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Journalism of Courage
India’s economy could grow 7.1 per cent in the fiscal year 2009/10 beginning in April, backed by creation of new capacities, and helpful fiscal and monetary policies, Kotak Institutional Equities said in a client note on Tuesday.
* In the 2008/09 fiscal year, Kotak expects gross domestic product (GDP) to grow by 7 per cent.
* Activities which may be directly hit by a terror strike in Mumbai comprise a miniscule portion of GDP and are unlikely to pull down overall growth. However, foreign investments in the country could be hit adversely, it said.
* Hotels and restaurants constitute only 1.6 per cent of the GDP with five-star hotels contributing a negligible proportion of this, according to the note.
* Kotak also said transport comprises 6.3 per cent of India’s GDP, but air traffic constitutes a tiny segment with only about one million people travelling by air annually.
