The Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan on Friday said, the economy is expected to grow at 5.5 to 6 per cent in the current fiscal and the next year will see a better rate of expansion. Speaking to reporters on the sidelines of a function in New Delhi, Mr Rangarajan said, growth in the first half of 2012-13 has fallen to 5.4 per cent, from 7.3 per cent in the same period last fiscal. He expressed hope that the economy will do better in the second half and the manufacturing sector could grow.