Over to the Budget

Advance estimates show growth revival remains a daunting task

The National Statistical Office’s first advance estimates of gross domestic product (GDP) for the current fiscal year have projected India’s economic growth at 5 per cent, which is not a surprise, given that it is in line with what the Reserve Bank of India has given. But this is significantly lower than the 7 per cent projected by the Economic Survey in July. According to the government data, manufacturing is expected to grow by 2 per cent in the current year, compared with 6.9 per cent in the previous year. Similarly, growth in the construction sector, which is vital for