The Reserve Bank of India`s (RBI`s) review of professional forecasters` raised the projections for the country's business segment's profitability growth in the existing plus next financial.

In the last survey, the profit growth of business segment in 2009-10 has been revised upwards to 11.3 percent.

The profit growth is likely to be 18 percent in 2010-11 that has been revised notably upwards from 14.5% in the previous survey.

The RBI in a statement said, "The industrial sector recovery is now consolidating. The performance of the corporate sector has picked up. Increased business optimism also reflects brighter prospects for the industrial sector."

"Services sector activities have improved. Domestic and international financing conditions have eased considerably, and this too should support domestic demand."

The estimations for agriculture division have been revised downwards. The projection for business has been upped from 6.9 percent in the last appraisal.

The projections for services segment are taken upwards from 8.4 percent in the last analysis.

Index of Industrial Production (IIP) growth forecast during the third quarter of the current fiscal is now stood at 10 percent from 7.2 percent in the last survey.

The study concluded that Bank credit is likely to go up at a lower clip at 15 percent in FY10 from 17 percent in the earlier forecast.

The survey adjusted the real gross domestic product growth for FY2010 in the upward direction to 6.9 percent from 6 percent in the last survey.

For the next fiscal, the analysts allotted the maximum probability of 33.8 percent to the 8.0-8.4 percent growth rate for the gross domestic product.

The long-standing estimate for real GDP growth for the coming five years has been estimated at 8 percent, while the GDP is expected to go up to 8% for the next 10 years.