September 12, 2011 2:08 PM

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Industrial growth projections may be revisited: Rangarajan

Chairman of Prime Minister's Economic Advisory Council (PMEAC), Dr. C Rangarajan on Monday said that Industrial growth projections for the current fiscal will have to be revisited in the wake of disappointing pace of expansion in the factory output.

He said as regards the estimate of industrial production for the year as a whole, the council will have to revisit the area after one or two months.

He, however, hoped that the industry would put up a better show in the second half of the year. In its Economic Outlook, the PMEAC had projected industry to grow by 7.1 per cent in the current fiscal.

The government, in February had pegged it at 8.6 per cent. The IIP had grown by 7.8 per cent in 2010-11. The PMEAC has projected GDP to grow by 8.2 per cent this fiscal.

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