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
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Government urges court to leave some coal blocks with companies
- Japan and India vow to boost defence ties during summit
- Federer marches on as wild weather, upsets hit U.S. Open
- Pakistani protesters clash with police, soldiers secure state TV
The Nifty surged past the psychologically important 8,000 level for the first time on Monday as blue-chips such as ICICI Bank gained after better-than-expected quarterly economic growth data. Full Article
Government urges Supreme Court to not cancel some 'illegal' coal mines Full Article