RBI survey projects GDP growth at 5.3 pc in FY15

Tags: News
An RBI sponsored survey today projected the economic growth in the current fiscal at 5.3 per cent and 6.5 per cent in 2015-16, from 4.7 per cent rate recorded in 2013-14.

As per the 'Survey of professional forecasters on macroeconomic indicators', the agriculture sector is projected to grow by 2.1 per cent, industry by 3.3 per cent and services by 7 per cent in 2014-15.

The growth rate for 2014-15 is lower than RBI's own central estimate of 5.5 per cent released earlier in the day.

The Survey further projected gross domestic saving rate in 2014-15 at 31 per cent, which is likely to improve to 32 per cent in 2015-16.

It also estimates the fiscal deficit in current year at 4.3 per cent of GDP, which is higher than the budgeted estimate of 4.1 per cent.

The retail inflation in March 2015 is estimated in the range of 8-8.9 per cent in March 2015, while the WPI inflation is likely be in the range of 5-5.9 per cent.

A separate survey on 'Inflation expectations of households for April-June' said short term price rise expectations for next three months would witness marginal increase, whereas for the one year ahead inflation expectations decreased marginally as compared to March 2014.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India must take the UN’s lead in recognising gay rights

    In what has by now become a matter of course, our judiciary again demonstrated that it is miles ahead of our government in terms of staying in tune wi

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

Today's Columns

Urs Schoettli

Lee’s legacy will always guide Singapore

LEE Kuan Yew, the father of modern Singapore, died last ...

Rajgopal Nidamboor

Forget the past and embrace the present

It is all right to believe that one should always ...

Bubbles Sabharwal

Relationships and bitter realities

It’s a tangled web we spin The relationships we make, break ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture