Economic Affairs Secretary Arvind Mayaram says, 2013-14 is likely to end with an economic growth of about 5 per cent. The expectation is encouraged by spurt in investment activities in the later half of the fiscal.
He said, new investment projects have risen to 4.9 per cent of GDP in October-December quarter from 3.6 per cent in the previous quarter, which means investments are now beginning to take place. With increase in investments, he said, the demand for critical inputs like cement, steel and core industries, among others will go up.

Stressing his point further, he said, the World Bank in its global economic prospects has projected a growth around 4.8 per cent at the market prices for India.

The economic growth (GDP) in the first quarter of 2013-14 was 4.4 per cent and 4.8 per cent in the second. In the first half of the fiscal, growth declined to 4.6 per cent from 5.3 per cent in the corresponding period a year ago.

The advance estimates of GDP growth for the current fiscal are scheduled to be released on February 7.