IIP growth likely to remain 1-2% in January: Dun & Bradstreet report
The central bank had last month lowered interest rates by 0.25 per cent saying that with inflation showing signs of remaining range bound, it was now critical to arrest the loss of growth momentum.
According to the advance estimates of Central Statistical Organisation (CSO), the GDP growth in the current fiscal is likely to be 5 per cent. However, the government expects it to be over 5.5 per cent. The economy grew by 6.2 per cent in 2011-12 fiscal.
Regarding the upcoming Union Budget of 2013-14, Singh said it is expected to address the structural bottlenecks and deliver measures which would bring about stability, reinforce the growth prospects and also instill confidence among companies, Singh added.
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