Economy to grow at 5.5% in current fiscal,7% in 2013-14:Montek
Quotes

Economy to grow at 5.5% in current fiscal,7% in 2013-14:Montek

Last Updated: Sunday, February 17, 2013, 11:10
 
 Comment 0
 
Economy to grow at 5.5% in current fiscal,7% in 2013-14:Montek
New Delhi: Indian economy would grow at a rate of between 5 and 5.5 percent in current fiscal and could expand by 7 percent in 2013-14, said Plan panel Deputy Chairman Montek Singh Ahluwalia.

"It (GDP growth rate) would be somewhere between 5 and 5.5 percent. If everything worked perfectly, I would not rule out seven percent next year (2013-14)", Ahluwalia said in an interview.

His comments came after the Central Statistical Organisation (CSO) has projected five percent economic growth this fiscal in its advance estimates released earlier this month.

In best case scenario the growth could climb to "5.5 percent" this fiscal, he said, adding "if there was strength in the recovery then many more signs would have been evident".

Economic growth in 2011-12 slipped to 6.2 percent from 9.3 percent a year ago mainly on account of global factors and subdued investor sentiments.

Gross Domestic Production (GDP) of the country has grown by 5.5 percent in April-June quarter and further declined to 5.3 percent in July-September quarter.

The recent industrial production data which reflects the health of mainly the manufacturing sector, has also portrayed a dismal picture. Manufacturing constitutes almost 75 percent of the IIP.

The factory output measured in terms of Index of Industrial Production (IIP) for December, 2012, has contracted by 0.6 percent for second straight month. IIP declined by 0.8 percent in November 2012.

PTI



First Published: Sunday, February 17, 2013, 11:10


Comments


comments powered by Disqus
Top 10 Fastest-Emerging Cities
Top 10 Fastest-Emerging Cities
New York Auto Show 2014
New York Auto Show 2014
Top Businesswomen in India
Top Businesswomen in India
World`s top ten billionaires 2014
World`s top ten billionaires 2014
2014 Geneva International Motor Show
2014 Geneva International Motor Show

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved