April 23, 2013 11:50 AM

printer

Economy to grow by 6.4% in current fiscal:PMEAC Chief Rangarajan

The government projects that the economy will grow by 6.4 per cent in the current fiscal. Addressing the media in New Delhi today, the Chairman of the Prime Minister’s Economic Advisory Council Dr C Rangarajan pegged growth in the agriculture sector at 3.5 per cent, industry 4.9 per cent and Services 7.7 per cent. Dr Rangarajan asserted that speedy implementation of projects will help boost growth. He said liberalising FDI may stimulate investment. It is expected to be at 32 per cent in 2013-14. Dr Rangarajan said that high gold, coal and crude oil imports remain a concern and called for steps to boost capital inflows in the short term. In reply to a question, he said the Current Account Deficit is a concern and put it 4.7 per cent for the current financial year. He said the growth estimate of the last fiscal at 5 per cent may be revised. Elaborating on inflation, he said non food manufacturing inflation remains in comfort zone.

Most Read
View All arrow-right

No posts found.