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Indian economy likely to grow 6.5-7% this fiscal: economists

Indian economy likely to grow 6.5-7% this fiscal: economists
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First Published: Sun, Feb 08 2009. 02 54 PM IST
Updated: Sun, Feb 08 2009. 02 54 PM IST
By PTI
New Delhi: Indian economy is likely to grow by around 6.5-7% in the current fiscal, the advance data for which would be out tomorrow, against 9% in the previous fiscal despite two rounds of stimulus packages announced by the Centre, economists said.
“Something close to 7%. It could be little less than 7%,” former chairman of PM advisory panel C Rangarajan told PTI when asked about his projections for economic growth in the current fiscal.
The Central Statistical Organisation would release advance data of economic growth for 2008-09 tomorrow.
Crisil Principal Economist D K Joshi said: “I expect growth rate to be between 6.5-7% in 2008-09.”
The growth rate in the second half of the current fiscal was widely expected to be moderate, even as the government came out with two rounds of stimulus packages.
The economy grew by 7.8% in the first half of this fiscal against 9.3% a year ago. In whole of last fiscal, economy expanded at the rate of 9%.
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First Published: Sun, Feb 08 2009. 02 54 PM IST