Economy to grow 5.5 pct this year amid signs of upturn: Chidambaram

NEW DELHI Sat Feb 9, 2013 3:52pm IST

Finance Minister Palaniappan Chidambaram attends a news conference in Hong Kong January 22, 2012. REUTERS/Tyrone Siu

Finance Minister Palaniappan Chidambaram attends a news conference in Hong Kong January 22, 2012.

Credit: Reuters/Tyrone Siu

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)

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