Economy to grow 5.5 pct this year amid signs of upturn: Chidambaram
NEW DELHI (Reuters) - India's economy will grow by 5.5 percent this fiscal year and 6-7 percent in the next fiscal year, as Asia's third-largest economy shows signs of reviving, Finance Minister P. Chidambaram said on Saturday.
Chidambaram said the economy would perform better than the 5 percent growth forecast by the government's Central Statistical Organisation (CSO) last week.
The 5 percent figure had been taken as an indication that the economy, growing at its slowest pace in a decade, could be in a worse state than anticipated.
(Reporting by Neha Dasgupta; Writing by Matthias Williams; Editing by Robert Birsel)
- Tweet this
- Share this
- Digg this
- UPDATE 3-U.S. fines Berkshire over stock deal, Buffett admits mistake
- UPDATE 2-Afghanistan gives NYT reporter 24 hours to leave country
- Islamic State opens new anti-U.S. front with beheading video
- McCain calls for dramatic increase in US airstrikes against Islamic State
- SAFT ON WEALTH-Buffett hoards cash, individuals' holdings hit 14-year low
Some of India's biggest companies are pouring billions of dollars into manufacturing guns, ships and tanks for the country's military, buoyed by the new government's commitment to upgrade its armed forces using domestic factories. Full Article