Growth pegged at around 7.5% in FY13

The government today pegged economic growth at around 7.5% in 2012-13, mainly driven by growth in the manufacturing sector.

"The performance of the manufacturing sector was better than the performance in the previous quarter. Therefore, we think that this trend may continue into next year," Prime Minister's Economic Advisory Council Chairman C Rangarajan said.

He was speaking to reporters on the sidelines of a conference organised by the Madras School of Economics.

"We think the manufacturing growth will be better [in future] and that will give an additional growth rate of about half a per cent over the current year and therefore it [the GDP growth] will be 7.5% [next financial year]."