India's economic growth is likely to accelerate to 6.4 percent in 2013-14 from 5 percent in the prior year, Chakravarthy Rangarajan, chairman of Economic Advisory Council to the Prime Minister said Tuesday.
Releasing a review of the economy in 2012-13, Rangarajan said industrial growth is pegged at 3.1 percent. It is projected to grow at 4.9 percent in 2013-14 and manufacturing to grow 4 percent. The service sector is forecast to expand 7.7 percent.
In expectation of normal or mostly normal monsoon, the farm sector growth is expected to improve and growth is seen at 3.5 percent in 2013-14.
The panel forecasts the current account deficit to narrow to 4.7 percent of GDP in 2013-14 from an estimated 5.1 percent in 2012-13.
In 2013-14, the headline wholesale price inflation is expected to be around 6 percent, with primary food inflation around 8 percent, fuel at about 11 percent and manufactured goods at around 4 percent.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.