GDP growth in India to slip to 4.8 pct in FY'14; to improve next year: Crisil

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The growth rate in 2012-13 slipped to decade low of 5 per cent. Reuters The growth rate in 2012-13 slipped to decade low of 5 per cent. Reuters
SummaryThe GDP growth rate in 2012-13 slipped to decade low of 5 per cent.

Account Deficit this year, Crisil said the nature of improvement is unsustainable. The government expects CAD to come down to USD 50 billion this fiscal, from USD 88.2 billion in 2012-13.

"As and when the curbs on gold import are gradually removed, import demand is likely escalate once again. As the economy recovers, investment and consumption goods¿ imports will pick-up. A pick-up in domestic growth is also expected to push oil imports higher due to higher volume demand," it said.

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