Economic growth to exceed 7% in 2003-04

Wednesday, 08 October 2003, 19:30 IST
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NEW DELHI: The Indian economy, Asia's third largest, is expected to grow more than seven per cent in fiscal 2003-04 on the back of good rains, a top finance ministry official said on Wednesday. "If you have a bumper harvest and agricultural GDP goes up because of the forward and backward linkages, it is eminently possible. We are pushing above seven per cent," adviser to the finance ministry, Ashok Lahiri, told a news conference. He said the Government's average cost of borrowing in the year ending March 2004 was less than seven per cent.
Source: IANS
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