Economy to grow 5.5% this year amid signs of upturn: Chidambaram

Reuters: India’s economy will grow by 5.5 per cent this fiscal year and 6-7 per cent in the next fiscal year, as Asia’s third-largest economy shows signs of reviving, Finance Minister P. Chidambaram said on Saturday.

Chidambaram said the economy would perform better than the five per cent growth forecast by the Government’s Central Statistical Organisation (CSO) last week.

The five per cent figure had been taken as an indication that the economy, growing at its slowest pace in a decade, could be in a worse state than anticipated.