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Economy may grow by 6-7.5% in 2013-14: Survey

Last Updated: Sunday, January 6, 2013 - 11:32

New Delhi: Over a third of corporates expect Indian economy to grow at a rate of 6 percent to 7.5 percent in 2013-14, a survey by industry body PHDCCI has said.

Of the 277 corporates, who participated in the survey, 34 percent said India's GDP growth may range between 6 percent and 7.5 percent in 2013-14.

About 75 percent respondents said that agriculture sector would grow by 2 percent to 4 percent, while the industry sector would grow by below 6 percent.

It said that inflation would rise and may hover at around 7 percent to 10 percent during the next financial year.

Due to the slowdown in the advanced world and its contagion spreading across the developing economies, the Indian economy is also going through a rough patch, the survey said adding the investment climate is not healthy due to the low business sentiments.

Over 77 percent respondents said that the slowdown may bottom out in 2013-14.

The Indian economy registered a GDP growth of 5.3 percent for the quarter ended September. The economy grew by 5.5 percent growth in the June quarter and 6.7 percent in the quarter ended September 30, 2011.


First Published: Sunday, January 6, 2013 - 11:32
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