Prime Minister's key economic advisor C Rangarajan on Friday lowered the
growth forecast for the current fiscal to 5.3 % from 6.4 %
projected earlier and listed out host of measures including further
liberalisation of FDI norms to improve economic condition.
"Economy will grow at 5.3 % in 2013-14," Prime Minister's Economic Advisory Council (PMEAC) Chairman Rangarajan said while releasing the Economic Outlook for 2013-14.
The PMEAC had in April projected 6.4 % growth for Indian economy for current financial year. The GDP grew by 5% in 2012-13.
Referring to the external sector, Rangarajan expressed hope that the Current Account Deficit (CAD) in 2013-14 will come down to USD 70 billion or 3.8 % of GDP, from USD 88.2 billion or 4.8% a year ago.
Note: i. RBI too had earlier lowered its growth projection for this fiscal to 5.5 % from 5.7 %.
"Economy will grow at 5.3 % in 2013-14," Prime Minister's Economic Advisory Council (PMEAC) Chairman Rangarajan said while releasing the Economic Outlook for 2013-14.
The PMEAC had in April projected 6.4 % growth for Indian economy for current financial year. The GDP grew by 5% in 2012-13.
Referring to the external sector, Rangarajan expressed hope that the Current Account Deficit (CAD) in 2013-14 will come down to USD 70 billion or 3.8 % of GDP, from USD 88.2 billion or 4.8% a year ago.
Note: i. RBI too had earlier lowered its growth projection for this fiscal to 5.5 % from 5.7 %.
