The Finance Secretary Mr Ashok Chawla said the economy could finally grow higher than the 7.2 per cent estimated by the official statistical department on Monday. According to the advance estimates of released by the Central Statistical Organisation (CSO), the economy will grow by 7.2 per cent in the current fiscal against 6.7 per cent last financial year. On being asked about the implication of the growth estimate on the fiscal stimulus measures, he said, it will be reflected in the budget. The Finance Ministry pegged GDP growth at 7.75 per cent in the mid-term economic review, while the RBI projected it at 7.5 per cent in its quarterly monetary policy review last month. Chief Economic Advisor Kaushik Basu said the growth estimate confirms that the country has clearly turned from the downturn.
News On AIR | February 8, 2010 5:25 PM
Economic Growth may be higher than 7.2 per cent