‘India economy to grow at 5.6% in 2014-15’

NEW DELHI: India is likely to grow by 5.6% in 2014-15 against a projected growth of less than 5% in the current fiscal, a report by India Ratings and Research has said.
“The global economy in 2014 appears to be in a better shape than what it was in 2012 and 2013. India Ratings forecasts India’s GDP to grow at 5.6% in 2014-15,” the rating agency said.
“The economic growth in FY15 is likely to be contributed majorly by the industrial sector, which is estimated to grow by 4.1%. This is good news for centre as well state government finances,” it added.
The rating agency also expects merchandise exports to grow by 8-10% in the next fiscal year.            —PTI