The National Council of Applied Economic Research (NCAER) has forecast the country's gross domestic product (GDP) growth during the current fiscal at 6.7 per cent against 8.13 per cent in fiscal 2003-04. In its latest monthly bulletin, Macro Track, the council said, "Keeping in view the normal rainfall prediction on the back of a very high agricultural growth last year, it assumes that agriculture would grow at 3 per cent this year. This contraction in agricultural growth compared with 2003-04 would lead to a reduction in overall demand as well. This would have an impact on industry and services growth."