'Economy to growth 5.5% this year amid signs of upturn'

Feb 09 2013, 16:36 IST
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SummaryEconomy will grow by 5.5% this fiscal year and 6-7% in the next fiscal year.

India's economy will grow by 5.5 percent this fiscal year and 6-7 percent in the next fiscal year, as Asia's third-largest economy shows signs of reviving, Finance Minister P. Chidambaram said on Saturday.

Chidambaram said the economy would perform better than the 5 percent growth forecast by the government's Central Statistical Organisation (CSO) last week.

The 5 percent figure had been taken as an indication that the economy, growing at its slowest pace in a decade, could be in a worse state than anticipated.

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