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Article: Change in capital formation may prop up industry's share in GDP.
- Article from:
- Economic Times (New Delhi, India)
- Article date:
- July 18, 2005
CopyrightCOPYRIGHT 2005 The Economic Times. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Tushar K. Mahanti
Jul. 18--The prospect of higher GDP growth is on the horizon once again. Industrial production is growing at a higher rate, the stock market is booming, inflation rate is under control and India Inc is swearing for profits as never before. The planners in Yojana Bhavan are busy revising the estimate of GDP growth rate for '05-06.
And why not! For, while improvement in macro fundamentals is in itself an indication of higher growth potential, there are more direct pointers to higher growth prospects this time round. The rate of capital formation, which is linked to future growth has increased substantially in '03-04. The rate of ...