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Ernst & Young has predicted GDP at 6.7 per cent
Ernst & Young has predicted India’s growth rate at 6.7 per cent for 1998-99. In their report, Asia Pacific Economic Outlook, the international consultancy said with the current reforms in infrastructure and other key sectors the country could expect growth to accelerate in 1999-2000. The report went on to say the government has not been able to achieve its seven per cent growth rate mainly because of inadequate infrastructure. Growth, it said would be difficult to achieve as private investors are constrained within a regulatory framework. India would have to work hard to be labelled poor man of Asia.