Rating agency Crisil today said that the GDP growth for 2003-04 is likely to be at 6.4 per cent, as against an advance estimate of 4.4 per cent for the last fiscal. The acceleration, according to the agency, is predominantly due to the low base in the last fiscal.
Crisil has assumed that monsoons would be normal and is expected to rebound sharply with a projected growth of 6.8 per cent as against an expected decline of over 3 per cent in the last fiscal.
Crisil has projected the average rate of inflation in the fiscal in the 4-5 per cent range.