GDP to grow by 5.7% this fiscal, says Icra report

  • 04/05/2003

  • Indian Express (New Delhi)

Indian economy will grow this fiscal by 5.5-5.7 per cent with an upswing in agriculture as compared to an estimated 4.4 per cent growth in 2002-03, Icra said in a research report. The favourable economic conditions in India have the potential to ward off much of the adverse impacts of Iraq war in the short term, the Icra Information Grading & Research Services (Ingres) report said. "Based on trend growth rate of agriculture, it is possible to say the sector will post an upswing in 2003-04, notwithstanding the forecast of a less than normal rainfall. Gdp growth in fiscal 2004 may be in the range of 5.5-5.7 per cent,' the report titled