Finance Secretary Exuberates Confidence on Achieving A Growth Rate in the Range of 5.7 to 5.9 Per Cent During the Current Fiscal Year 2014-15; Investment Data in September 2014 Shows an Uptick with A Growth Of 9.8 Per Cent as Against 6.7 Per Cent Growth During the Corresponding Period in the Last Fiscal ; Total FDI Flows in India During April -July 2014, Stood at USD 14.6 Billion as Compared to USD 11.7 Billion During the Same Period A Year Ago

Dr Arvind Mayaram, Finance Secretary, Government of India exuberated confidence on achieving a growth rate in the range of 5.7 to 5.9 per cent during the current fiscal year 2014-15. Dr Mayaram was speaking at a function organized by the Madras Chamber of Commerce & Industry to celebrate their Chamber Day at Chennai today. He said that an upgrade by S&P in the overall outlook from negative to stable reaffirms the fact that the health of the economy is in a much better condition than it was a year ago. Finance Secretary Dr Mayaram said that the indices in H1 of 2015 appear to be more robust, with the first quarter GDP growth numbers coming in at 5.7 per cent, significantly low rates of inflation and a healthier external account balance. He said that investments are higher compared with the levels in the previous year.