Fitch India Rating has predicted that the Indian economy is not expected to grow by over 5.4 per cent in the current fiscal in the wake of the continuing demand recession, lower industrial growth, investment slowdown and a decline in export growth.
In its monthly 'Economy Update', the rating agency has forecast that during 2001-02, the agricultural sector will grow by 5 per cent while the industrial and the services sectors will register growth rates of 4.5 per cent and 6 per cent, respectively.
It has said that the economy needs a "big push" in the form of rising investment. "Given the low level of business confidence, the first concrete step needs to be taken by the government
