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Mid-year eco review: FY15 can sign out with 5.5% growth

India’s economy is expected to grow at around 5.5% in the fiscal year to March 2015, the finance ministry said in a report tabled in Parliament on Friday.The mid-term review is based on the trend study of receipts and expenditure in relation to the budget at the end of the second quarter of FY2015.

Mid-year eco review: FY15 can sign out with 5.5% growth

The News International Team

India’s economy is expected to grow at around 5.5% in the fiscal year to March 2015, the finance ministry said in a report tabled in Parliament on Friday., the same as the Reserve Bank estimates. The mid-year review is based on the trend study of receipts and expenditure in relation to the budget at the end of the second quarter of FY2015, says the Budget deficit target is in line with estimates.

The report notes that in the first six months of the fiscal year, economy grew an annual 5.5 percent. It also says interest rate is likely to remain unchanged until end of March quarter.

Speaking to CNBC-TV18, Kiran Mazumdar Shaw of Biocon says the government’s reading of interest rates suggest it is bogged down by huge debts (NPAs). She is of the opinion a strong PPP model in public spending will help solve the fiscal deficit versus growth dilemma.

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