Economy To Raise By 5.5-7.5 Pct, Says Chief Financial Adviser - April 22, 2009

The growth rate of Indian economy would be between 5.5 per cent and 7.5 per cent depending on when the US economy bottoms up, according to the Chief Economic Adviser Arvind Virmani. However, the economy would grow in the range of 6.5 to 7 per cent this fiscal in case the US economy bottoms out by September this year, otherwise, it would expand in the range of 5.5 to 6.5 per cent, Virmani told.

Meanwhile IMF has projected a growth rate of 5.1% in 2009-10 for Indian economy. In line with this, the World Bank forecast growth rate of four per cent, while ADB has pegged the country''s GDP expansion rate at five per cent.