A Chief economic adviser predicts substantially by saying that the Indian economy will accelerate in the coming second half of current fiscal year!! He called this as a possibility even after the dead effect of the GDP growth of 7.7% in the first quarter of this year.
Though he has predicted the growth to be evident, but he has even claimed that this growth is not going to be very high.
He has asked everyone not to keep extremely high hopes for the coming quarter but he wants to be optimistic for the third and the fourth quarter, expecting a substantial rise.
He said, the economy grew only by 7.7% in the April to June quarter as the manufacturing sector had a poor performance in that period, while in the previous year there was an 8.8% growth in the same period. In the quarter ending of June, 2012, the growth in manufacturing sector had dipped to 7.2%, compared to the 10.6% growth in the previous year.
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