Jet Airways' initiative for travellers

Chennai: Jet Airways announced a special attractive offer on economy and premier fares, for its...... Read More >>

'Eurocracy' in full swing

Chennai: The India visit of German Chancellor Angela Merkel has opened up new opportunities in...... Read More >>

Join the party: US to India

Washington: As the US and 11 other nations reached a landmark deal on the Trans-Pacific...... Read More >>

Chennai airport set to handle more cargo

The new Common User Domestic Cargo Terminal (CUDCT) at Chennai airport which is set up in an area...... Read More >>

CM announces solatium to kin of victims

Chennai : Chief Minister J Jayalalithaa today announced solatium from the Chief Minister's Public...... Read More >>



GDP expected to grow by 5.2-5.7 pc in FY15: NCAER

Tuesday, 29 July 2014

New Delhi : With manufacturing sector showing signs of nascent recovery, economic think tank NCAER expects India's GDP to expand at 5.2-5.7 per cent this fiscal.

"GDP growth rate for 2014-15 is projected at 5.2-5.7 per cent. The higher growth of 5.7 per cent is conditional on pick up of investment spending," National Council of Applied Economic Research (NCAER) said in a statement.

India recorded sub-five per cent in 2012-13 and 2013-14 due to general global slowdown and domestic factors, like high interest rate and stubborn inflation.

The Economic Survey expects the country's economy to expand by 5.4-5.9 per cent this fiscal.

The index of industrial production (IIP), the principal indicator for industrial activity grew by 3.4 per cent and 4.7 per cent in the months of April and May 2014, respectively.

Manufacturing, which accounts for 75 per cent of the index, showed signs of nascent recovery, clocking a growth of 2.5 per cent and 4.8 per cent in April and May respectively as against negative growth in the earlier months.

NCAER further said growth in agriculture sector is likely to be lower in 2014-15 year-on-year due to poor monsoon.

It also expects the fiscal deficit at 4.5 per cent of GDP for 2014-15.

Finance Minister Arun Jaitley while presenting the Budget had said government will retain the fiscal deficit target for 2014-15 at 4.1 per cent of GDP.

NCAER has projected the wholesale price based average inflation rate at 6.4 per cent in the fiscal.


Today's E-Paper


Should India have done more for stronger UN Lanka resolution?