Economy likely to grow by 5.5-6% in 2012-13: Rajan

The economy is likely to grow at 5.5-6 per cent this fiscal with a marginal improvement in the second half of the current financial year, chief economic advisor Raghuram Rajan said here today.

"I would be surprised if there is more deterioration (in growth rate) from here ... The numbers that have been talked about are in the 5.5-6 per cent range. And I feel comfortable sitting with that," he told reporters on the sidelines of the FICCI AGM.

Industrial output bounced back to 8.2 per cent in the month of October, against a contraction of 5 per cent in the corresponding month of the previous year.

"I think it is too early to say confidently that the economy has turned the corner ... Given that the beginning of the announcements that increased confidence, buoyancy in the stock markets started in September, this creates an environment for business to start investing," Rajan said.

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