Worst may be over: Montek
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Last Updated: Monday, August 31, 2009, 16:10
  
New Delhi: India's economy is expected to improve in the coming quarters, plan panel deputy chairman Montek Singh Ahluwalia said on Monday, after government data showed the economy grew faster than expected in the June quarter.

"The worst may be over," he said.

The economy grew 6.1 percent in April-June from a year earlier, just above a median forecast of 6 percent in a poll.

Economy may grow at 6.5%-plus: Fin Secy

The economy may grow at 6.5 percent-plus this fiscal, Finance Secretary Ashok Chawla said on Monday expressing optimism after the quarterly GDP data depicted a better showing by the economy.

"We expect the (GDP) growth rate to be 6.5 percent or above. Growth in the economy was very encouraging and it is expected to improve further going forward," Finance Secretary, Ashok Chawla, told reporters on the sidelines of a function here.

On the back of a good performance in the manufacturing and services sectors growth can be maintained, Chawla said.

Allaying concerns that low rains may impact economic growth severely he said, though it will affect agricultural output but the contribution of agriculture to GDP is only around 18 percent and the manufacturing and service sectors will compensate for any shortfall from agriculture.

Bureau Report


First Published: Monday, August 31, 2009, 16:10


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