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Ficci projects 5.6% growth rate
Ficci Projects 5.6% Growth Rate. India\'s GDP will grow at 5.6 per cent during 2014-15 and economic activity is expected to continue with this momentum in the second half of the current fiscal, Ficci said on Sunday.
The new government guided by the objective of restoring growth and governance has given very positive policy signals in its first 100 days - Survey
New Delhi: India's GDP will grow at 5.6 per cent during 2014-15 and economic activity is expected to continue with this momentum in the second half of the current fiscal, Ficci said on Sunday.
The new government guided by the objective of restoring growth and governance has given very positive policy signals in its first 100 days. We see the confidence amongst investors slowly returning and hope that going ahead, the momentum on implementation front will build up, stated Ficci’s latest Economic Outlook Survey.
While agricultural growth is expected to remain steady despite a delay in monsoon, the industrial sector is expected to grow by 4.7 percent in 2014-15 fiscal. This is 1.6 percentage points more than the growth estimate in the previous survey round conducted in June 2014, the chamber said. Retail inflation is expected at 7.8 percent this fiscal, in sync with the Reserve Bank of India's (RBI) target indicated earlier this year. The economists who participated in the survey also felt that the RBI will consider a cut in policy rates only in the first quarter of the next calendar year. The RBI will wait and watch until there were definite signs of inflationary pressure abating, they said.
