Economy may grow at 7% in FY 09-10: PMEAC
New Delhi: On the back of robust economic growth at about 8 per cent in the second quarter of the fiscal, the Prime Minister`s economic panel today said the economy is likely to grow by 7 per cent in the current fiscal.
"We had earlier estimated it (growth) at 6.5 per cent but probably it will be higher than that...it could be 7 per cent," Prime Minister`s Economic Advisory Council Chairman C
Rangarajan told reporters on the sidelines of a seminar.
Asked when the Council would revise its growth projection for the country, he said, "We brought out the outlook only in October. So we probably will do it in
The economy clocked a growth of 6.7 per cent in 2008-09, an year when the financial downturn had set in, impacting India as it was other countries.
However, belying predictions, the Indian economy grew by a significant 7.9 per cent in the second quarter of this fiscal, up from 6.1 per cent in the previous quarter,
essentially due to a good showing by the industry and the services sector.
Rangarajan, while commenting on the high growth in the second quarter, had said overall growth figure may have to be revised upward.
More from India
More from World
More from Sports
More from Entertaiment
- DNA: End of ISIS? Vladimir Putin to send 1,50,000 soldiers to Syria
- Bihar polls: Lalu's younger son claims to be older than elder brother
- Rahul Gandhi received pay while on 56 day leave: Organizer
- Mega sale: Snapdeal, Flipkart, others gear up for festive season
- Dadri lynching: Azam Khan seeks UN intervention
- India vs South Africa: How cricket fraternity reacted to crowd's disgraceful behaviour at Cuttack
- Salman Khan, Aamir Khan's friendship turns sour? Here's the truth
- Dadri lynching: Any threat to secular fabric of country will not be tolerated, says Rajnath Singh
- Can Lalu Prasad Yadav's elder son Tej be less in age than younger son Tejaswi?
- 'Rahul Gandhi gets pay without work'