India economy to grow at 5.6% in 2014-15: India Ratings

  • PTI, New Delhi
  • Updated: Mar 06, 2014 19:12 IST

India is likely to grow by 5.6 % in 2014-15 against a projected growth of less than 5 % in the current fiscal, a report by India Ratings and Research has said.

"The global economy in 2014 appears to be in a better shape than what it was in 2012 and 2013. India Ratings forecasts India's GDP to grow at 5.6 % in 2014-15," the rating agency said.

"The economic growth in FY15 is likely to be contributed majorly by the industrial sector, which is estimated to grow by 4.1 %. This is good news for centre as well state government finances," it added.

The rating agency also expects merchandise exports to grow by 8-10 % in the next fiscal year.

It expects a minor slippage in consolidated state deficit from the budgeted FY14 estimate.

"Aggregate state's fiscal slippage in FY14 is estimated at 0.1 % of GDP. Consolidated state fiscal deficit in FY14 is likely to 2.3 % of GDP vis-a-vis 2.2(BE)," the report said.

It further said that state governments' debt in 2013-14 is estimated to increase marginally to 21.7 % of GDP from budget estimate of 21.5 %.

The agency, however, said that it maintains a stable outlook on state government finances for the next fiscal.

"India Ratings maintains a stable outlook on state government finances for FY15 as it expects consolidated state finances to remain resilient to the on-going economic slowdown," the rating agency said.

From Around the Web
Sponsored by Revcontent

also read

RBI fines BoB Rs 5 crore, HDFC Bank Rs 2 crore
Show comments

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Chrome and Ad BlockPlus users

1.Press the ‘ABP’ icon in your toolbar at top right of this page

2. Click on ‘Enabled on this site’; this should now change to ‘Disabled on this site’


chrome



For Chrome and Ad Block users

1.Press the ‘AdBlock’ icon in your toolbar

2.Select the option ‘Don’t run on pages on this domain’ and then click ‘exclude’ on the pop up


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Mozilla and AdBlock Plus (ABP) users

1.Press the ‘ABP’ icon in your toolbar

2.Select the option ‘Disable on hindustantimes.com’


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Internet Explorer and AdBlock Plus users

1.Press the ‘AdBlock Plus’ icon in your status bar at the bottom of the screen

2.Select the option ‘Disable on hindustantimes.com’


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Safari and AdBlock users

1.Press the ‘AdBlock’ icon in your toolbar

2.Select the option ‘Don't run pages on this domain’ and then click 'exclude'


chrome