See FY15 GDP growth at 5-5.5%, but conditions apply: FICCI

India's economic growth rate in the current financial year has been estimated at 4.9 percent, a faster pace than in the previous year, mainly on an improved performance in the agriculture and allied sectors.

Sidharth Birla, President, FICCI, says it is close to what he was expecting, which was between 4.8-5 percent. The helping factor has been the healthy growth in agriculture at 4.6 percent, he says. However, he says: “We feel it’s a kind of bottom out rather than say it’s going to go way upwards from here,” he adds

He feels next financial year growth could be between 5 percent and 5.5 percent, but that depends on many things.

He feels it’ll be better to look at some points going ahead. He expects every party to state in their manifesto that they’ll be friendly to capital – whether it is domestic capital, foreign or secondary market. Second important thing according to him is, there must be very clear signal on stability of policy. He says every political party must signal that they will not go in for retrospective amendments hereon unless there was some really serious mitigating national issue compelling them to do so.