Source: The Economic Times, Jul 29, 2014
“GDP growth rate for 2014-15 is projected at 5.2-5.7%. The higher growth of 5.7% 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% this fiscal.