Home ECONOMY India’s GDP growth may rise to 6 percent in 2014-15

India’s GDP growth may rise to 6 percent in 2014-15


New Delhi, May 1

India’s economic growth is likely to accelerate to six percent in the current financial year from below five percent expansion registered in the previous two years, Finance Minister P. Chidambaram said Thursday.

P Chidambaram
P Chidambaram

“Going forward 2014-15 will be better than 2013-14… I think it’s possible to aim and achieve six percent growth,” Chidambaram said at a media conference here.

However, he clarified that the government has not set any target for economic growth for the current financial year that began April 1.

He said the new government that will come into power after the general elections would set the target for growth.

India’s gross domestic product (GDP) growth fell to a decade’s low of 4.5 percent in the financial year 2012-13 and it is estimated to grow at 4.9 percent in the year ended March 31, 2014, according to the Central Statistics Office (CSO) data.