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Religare projects 7.8pc growth for India in 2010-11

Research firm Religare yesterday said the Indian economy is expected to grow 7.8 percent during the current fiscal year, at a slower pace than the government projection of 8.5 percent, mainly on account of moderated industrial growth.

"We believe industrial activity peaked in December 2009, and is likely to slow down going forward, due to cost pressures and capacity constraints, as well as the base effect," Religare said in a statement.

The firm also said private final consumption has not improved significantly enough to support growth.