June 19, 2016 12:10 PM

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FM hopes country's growth rate to climb to 8 % in current financial year

The Finance Ministry expects the country's growth rate to climb to 8 per cent in the current financial year on the back of above normal monsoon.Talking to a news agency, Economic Affairs Secretary Shaktikanta Das expressed hope that likely passage of the Goods and Services Tax, GST bill in Parliament will further add to the business sentiment, fuelling growth. Mr Das said, Indian economy will certainly exceed 7.6 per cent growth.He further said, although the GST is likely to be rolled out from April 2017, its passage will significantly help in boosting sentiment and generating economic activity.Mr Das said, the moment GST is passed, the business environment will improve. He said, this will give a huge boost to business sentiment and economy is all about real factors and sentiments.Earlier this month, the India Meteorological Department, had stated that there is no possibility of a deficient monsoon this year and 96 per cent chances are that the rainfall would be normal to excess".Later, the IMD said, the slow progress of the south-west monsoon has led to overall deficiency of rainfall by 22 per cent from June 1-15.

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