Economic growth may rise to 6% in 2014-15: FM

Chidambaram said the new govt that will come into power after the general elections would set the target for growth

India's economic growth is likely to accelerate to six% in the current financial year from below five% expansion registered in the previous two years, Finance Minister P. Chidambaram said Thursday.

"Going forward 2014-15 will be better than 2013-14... I think it's possible to aim and achieve six% growth," Chidambaram said at a media conference here.

However, he clarified that the government has not set any target for economic growth for the current financial year that began April 1.

He said the new government that will come into power after the general elections would set the target for growth.

India's gross domestic product (GDP) growth fell to a decade's low of 4.5% in the financial year 2012-13 and it is estimated to grow at 4.9% in the year ended March 31, 2014, according to the Central Statistics Office (CSO) data.