Govt pegs GDP growth at 6.9 per cent

  • 07/02/2005

  • Indian Express (New Delhi)

The government pegged economic growth rate at 6.9 per cent for this fiscal despite erratic monsoons and high fuel prices. However, the economic growth of this fiscal is estimated to be lower than 8.5 per cent in 2003-04. This is mainly due to low farm growth which has been estimated at 1.1 per cent. As against the 6-6.5 per cent GDP growth projections of RBI, World Bank, ADB, IMF and others, the advance estimates of National Income released by the Central Statistical Organisation (CSO) on Monday has projected a 6.9 per cent growth in 2004-05 on the back of robust showing by manufacturing and services sectors. Except agricultural, the advance estimates of all other sectors show over 5 per cent growth.