Economy likely to grow at 5.5 percent in 2012/13
NEW DELHI (Reuters) - India's economy is likely to grow at 5.5 percent or slightly more in the current fiscal year ending next month, and the central statistical organisation is likely to revise figures in its final estimates, a finance ministry statement said on Friday.
Citing GDP trend data for previous years, the statement said the advanced estimates were based on data till November or December, and did not capture the turnaround trend of the economy.
(Reporting by Manoj Kumar; Editing by Anupama Dwivedi)
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India approved on Saturday the purchase of 814 mounted gun systems for the army at a cost of 157.5 billion rupees ($2.55 billion), a defence ministry spokesman said. Full Article