Farm sector recovery to push GDP growth

Friday, 11 July 2003, 19:30 IST   |    1 Comments
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NEW DELHI: The economy is likely to expand at 6.5% in the current fiscal when compared with 4.3% in the previous fiscal, thanks to growth expected in farm sector output. According to data released by the Centre for Monitoring Indian Economy (CMIE), agricultural sector is expected to recover with a growth of 7.5% despite delayed monsoons. Last year, the farm sector output declined 3.2% due to the worst drought in 15 years. CMIE said that while industrial growth may decline to 5% in the current year from 5.7% last year, services sector may continue to grow at 7%.
Source: IANS
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