GDP growth to improve this fiscal: Jaitley
Quotes

GDP growth to improve this fiscal: Jaitley

Last Updated: Friday, July 18, 2014, 16:13
 
 Comment 0
 
GDP growth to improve this fiscal: Jaitley
New Delhi: India's economic growth is expected to improve during the current fiscal from 4.7 percent in 2013-14, helped by a revival in industrial growth, improved fiscal health and external economic situation, Parliament was informed today.

The Economic Survey 2013-14 tabled in the Lok Sabha early this month had projected the country to grow between 5.4-5.9 percent in the current fiscal.

"The growth rate of the country is expected to increase during 2014-15, compared to 2013-14," Finance Minister Arun Jaitley said in a written reply to the Lok Sabha.
He said factors such as revival of industrial growth, improved external economic situation characterised by a stable current account, benign outlook on oil prices, improved fiscal health and modest revival in global economy can be expected to contribute to the GDP growth in 2014-15.

The country has been clocking a sub-5 percent growth for the past two financial years, mainly on account of slowdown in investments.

In a separate reply to another question, the Minister said slowdown in investment has happened due to a combination of factors such as weak business sentiment, global slowdown, lower export demand, infrastructure bottlenecks and rise in interest costs owing to elevated inflation.

"The government continuously monitors macro-indicators including sectoral investment pattern in the economy," he said, adding the investment rate declined from 35.5 percent of GDP in 2011-12 to 34.8 percent in 2012-13.


PTI

First Published: Friday, July 18, 2014, 16:13


Comments


comments powered by Disqus
Reminiscing Lincoln Continental
Reminiscing Lincoln Continental
Jaguar high-wire water crossing
Jaguar high-wire water crossing
2015 DFW Auto Show
2015 DFW Auto Show
Samsung Galaxy S6, Galaxy S6 Edge
Samsung Galaxy S6, Galaxy S6 Edge
Hyundai i20 Active
Hyundai i20 Active

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