Written by The Financial Express | Updated: Jan 31 2013, 09:55am hrs
New Hindu numeral

Raj Krishna made the term Hindu rate of growth famous when he talked of how, no matter what you did, Indias rate of growth wouldnt move beyond 3-4%. Well, theres a new numeral in town, and it doesnt deal with just growth. According to a senior gent in the Prime Ministers Economic Advisory Council (PMEAC), everything seems to be converging to the numbers 5 and 5. Economic growth of 5.5%, a likely Q3 current account deficit of 5.5% of GDP, a fiscal deficit of 5.5% of GDP no, the inflation numbers arent trending down to this holy numeral, nor is IIP trending up towards it. As yet.