Published on Tue, Feb 07, 2012 at 15:00 | Source : Reuters
Updated at Wed, Feb 08, 2012 at 09:13
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Pranab expects upward revision to FY12 GDP growth
The finance minister said on Tuesday he expects an upward revision of the advance GDP growth estimate of 6.9 percent for the 2011/12 financial year ending in March, when the full data becomes available.
The finance minister said on Tuesday he expects an upward revision of the advance GDP growth estimate of 6.9% for the 2011-12 financial year ending in March, when the full data becomes available.
A moderation in headline inflation, a possibility of bumper crop and a strong performance in the service sector could help recover the growth momentum, Pranab Mukherjee said in a statement.
India's economic growth may dip below 7% in the current fiscal year, provisional estimate released by the government said earlier, the slowest pace since the 2008 financial crisis, restrained by the central bank's inflation-fighting campaign and government gridlock.
Meanwhile, Mukherjee will present the annual Budget for 2012-13 on March 16, while the railways budget will be presented on March 14, a minister said on Tuesday.
The budget session of parliament will start on March 12, Pawan Kumar Bansal, minister of parliament affairs, told reporters.
The government will present on March 15 the Economic Survey for 2011-12, a document on the state of economy prepared by the economic division in the ministry of finance, he said.
