GDP to grow at 6.8%

  • 27/07/2003

  • Pioneer (New Delhi)

Recovery in agriculture and continued upswing in the industrial and services sector have prompted the Confederation of Indian Industry (CII) to revise upwards the economic growth to 6.8 per cent for this fiscal from the earlier estimate of 6.4 per cent. The primary area of concern during 2003-04 would be overall fiscal deficit of the Centre and states, which would rise to "unsustainable" level of 12 per cent this fiscal, the CII said. All other areas, including agriculture which contracted last fiscal leading to dip in the GDP growth, are expected to improve.