India to Grow 5.5% This Fiscal: Economic Review

As per the Mid-year economic review tabled in Parliament, India’s economy is expected to grow at around 5.5 per cent in the fiscal year to March 2015.

If the forecast materializes, it would mark an improvement from two successive years of below 5 per cent growth. In the first six months of the fiscal year, Asia’s third-largest economy grew an annual 5.5 percent.

Here are some of the highlights of the Mid-year economic review.1) GDP growth in India will be around 5.5 per cent in current fiscal: Mid-Year Economic Review. 2) Government feels interest rates to remain unchanged till March 2015. 3) Investment is yet to pick up significantly, but inflation has come down dramatically. 4) Retail inflation to be in range of 5.1-5.8 per cent in next five quarters: Mid-Year Economic Review. 5) Game changing reforms of increasing direct benefit transfer and GST roll out are on horizon: Mid-Term Economic Review. 6) Mid-Year Economic Review pegs CAD at around 2 per cent with slump in oil prices offsetting higher gold imports