PM-ECONOMY

Earlier at the plennary session of the summit, Singh
said India managed to deal with the economic crisis despite
domestic concerns like deficient rainfall, key to the
agricultural production.

He said the Indian economy would grow by 6.3 per cent in
the current financial year.

"...we have weathered the crisis relatively well given
the circumstances...In 2009, despite a drought, which will
affect agricultural production, we expect to grow by around
6.3 per cent in 2009-10 and then recover to 7 to 7.5 per cent
growth next year," he said.

The relatively better performance is partly due to the
strong stimulus measures introduced in the second half of
2008-09, which have been continued in this fiscal.

There were signs of global recovery as well. "Industrial
output is now rising in nearly all our economies.
International trade is starting to recover. Our financial
institutions are raising capital, financial markets are
showing a willingness to invest and lend, and confidence has
improved," the G-20 statement said at the conclusion of the
summit. PTI