Impact of Global financial crisis - real estate to remain subdued: Mid-Year Review of Economy for 2008-09 tabled in Parliament

The global financial crisis may have moderate-to-large impact on India's manufacturing sector, while growth in the agriculture would be insulated from turmoil in the world economy, Mid-Year Review of Economy for 2008-09 tabled in Parliament said on Tuesday

The review said the recent global economic events may have "some impact on account of export slowdown and liquidity squeeze".

The real estate is likely to remain subdued, there may be increase in the non-performing assets in the banking and insurance sector, the review prepared by the Finance Ministry said.
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