Indian economy will grow stronger clocking 5.3 percent in 2013-14. Releasing the Economic outlook for 2013-14 in New Delhi today, the Prime Minister's Economic Advisory Council Chairman, Dr. C. Rangarajan said, owing to good monsoon and increased sown area, agriculture is projected to achieve a 4.8 percent growth. Growth will pick up in the second half with important sectors of the economy also expected to do better- industry at 2.7 percent, and manufacturing at 1.5 per cent.

Dr. Rangarajan said, good agricultural performance will have a moderating impact on inflation. He said, WPI inflation is expected to come down to 5.5 per cent by the end of March 2014. He said, the Indian economy is expected to do better than the previous year with the public sector acting as the driving force. 209 infrastructure projects have been cleared by the Cabinet Committee on Investment, entailing investments of 3 lakh, 84 thousand crore rupees. Dr. Rangarajan said, the performance of the farm sector is expected to back higher GDP growth. He said, the Current Account Deficit contained at 70 billion dollars, reduction in gold imports and improving international oil prices could see India doing even better in the coming days.