India’s economy to grow between 7 to 7.75 percent in current fiscal: Rangarajan
December 29th, 2009 - 6:35 pm ICT by ANI ( Leave a comment )Hyderabad, Dec 29 (ANI): The Prime Minister’s Economic Advisory Committee (PMEAC) chairman, C Rangarajan, said here on Tuesday that country’s economy will grow between 7 to 7.75 percent during the current fiscal despite poor performance of the agriculture sector on account of drought and floods.
Addressing the students of College of Defence Management here, Rangarajan said: “The economy will grow between 7 and 7.5 percent overall but agricultural growth may fall by 1 to 2 percent.”
Highlighting food inflation as a major concern, he said: “Agricultural growth rate should not fall below four percent for food security as 60 percent of the population are in rural areas.”
Though the country’s economy did well during the second quarter by recording a growth of 7.9 percent, the agriculture and allied sector output slipped to below one percent.
Mentioning the impact of widespread drought and devastating floods on the farm sector, Rangarajan said: “Rice output might decline by 13 million tonnes.”
However he expressed hope, that the rabi crop would help in covering the shortfall of kharif. (ANI)
- Indian economy grows slowest in six quarters (Roundup) - Aug 30, 2011
- Highlights of economic review by PM's council - Feb 19, 2010
- Growth to dip below 8 percent after slow first quarter: Industry - Aug 30, 2011
- Indi to grow at 9 percent in 2011-12: Rangarajan - Oct 05, 2010
- India to grow 9 percent in 2011-12: PM's advisor (Lead) - Feb 21, 2011
- Food production may surpass target: Pawar - Sep 14, 2011
- With farm output poor, India's recovery projections premature (Comment) - Oct 25, 2009
- Economy to grow by 8.6 percent this fiscal: PM's advisor - Feb 21, 2011
- India to grow faster in 2012-13: Kaushik Basu - Jan 31, 2012
- Economy to grow 8.5 percent: PMEAC - Jul 23, 2010
- Global slowdown, reason for lowering growth projection: RBI - Oct 25, 2011
- Rangarajan to brief Prime Minister on state of economy, growth outlook - Jul 22, 2010
- Industrial output sluggish in December, grows at 1.8 percent - Feb 10, 2012
- Food Security: Inconceivable without agricultural growth - Mar 18, 2011
- Indian economy to grow by 6.9 percent this fiscal (Lead) - Feb 07, 2012
Tags: agricultural growth, agriculture sector, c rangarajan, defence management, drought, economic advisory committee, economy, farm sector, floods, food security, India, inflation, poor performance, population, prime minister, rabi crop, rural areas, second quarter, shortfall
