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
- Admissions 2015: Know India's best ranking Universities
- Zee Media Exclusive interview with UPSC topper Ira Singhal's family
- UPSC announces Civil Services Examination 2014 results
- Watch: Top 25 Headlines @ 12 pm
- Dr Subhash Chandra Show: Is Corporate Social Responsibility nothing but a marketing gimmick?
- Vyapam scam: MP medical college dean found dead in hotel, body sent for post-mortem
- Dawood Ibrahim's surrender offer rejected due to a 'condition', clarifies Sharad Pawar
- Vyapam scam: Last rites of journalist Akshay Singh performed; MP CM assures of SIT probe
- Photographer captures International Space Station flying across moon
- UPSC Results 2014: Meet top three toppers