The National Council for Applied Economic Research (NCAER) todaypegged GDP growth for the current fiscal at 6.5%, which wouldaccelerate to 7.4% in 2005-06 if government carried out far-reaching reforms."Growth in FY05 is expected to be around 6.5%, and is expected to increase to around 7.4% next fiscal. India would perhaps be the only country in the world that would grow faster while growth elsewhere slows down," NCAER said in its report Macrotrack.The contribution of the manufacturing sector in the overall growth is on the rise, and the sector is expected to grow by 8% next fiscal, it said."Domestic investment has continued to rise, business confidence is high, FII inflows are strong, and FDI too is increasing," the report said.Although export growth has been strong, NCAER warned that it could slow down if the rupee continued to appreciate and interest rates rise faster than expected.
