India tips growth of 5.5pct amid signs of upturn

NEW DELHI, Feb 9 — 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 today.

Chidambaram said the economy would perform better than the 5 per cent growth forecast by the government’s Central Statistical Organisation (CSO) last week.

The 5 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. — Reuters