The economy does not appear to be on the desired growth path as the GDP growth has been 4.4% in Q1, 4.8% in Q2 and 4.7% in Q3 FY14. The Finance Minister in his interim budget reaffirmed that the estimated growth for FY14 is 4.9%. However, this target now appears a challenge since growth rate would have to be 5.5% in the last quarter of this fiscal for the country to meet the target. CARE's estimation suggests that the GDP growth for FY14 will stand at 4.7% assuming 5% growth in Q4. There would be a downward bias in case this does not materialize.
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