Economy may grow by 6-7.5% in 2013-14: survey

Indian economy

Over a third of corporates expect Indian economy to grow at a rate of 6 per cent to 7.5 per cent in 2013-14, a survey by industry body PHDCCI has said.

Of the 277 corporates, who participated in the survey, 34 per cent said India's GDP growth may range between 6 per cent and 7.5 per cent in 2013-14.

About 75 per cent respondents said that agriculture sector would grow by 2 per cent to 4 per cent, while the industry sector would grow by below 6 per cent.

It said that inflation would rise and may hover at around 7 per cent to 10 per cent during the next financial year.

Due to the slowdown in the advanced world and its contagion spreading across the developing economies, the Indian economy is also going through a rough patch, the survey said adding the investment climate is not healthy due to the low business sentiments.

Over 77 per cent respondents said that the slowdown may bottom out in 2013-14.

The Indian economy registered a GDP growth of 5.3 per cent for the quarter ended September. The economy grew by 5.5 per cent growth in the June quarter and 6.7 per cent in the quarter ended September 30, 2011.

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