India's economic growth in the current fiscal year ending March is likely to be around 7% and not 8%, said Montek Singh Ahluwalia, deputy chairman of the Planning Commission, on Thursday.
"I have said that the likely GDP growth this year is likely to around 7%, not 8%. It could be a little more (than 7%), depends upon what the last quarter (Jan-Mar) is like," Ahluwalia told reporters in New Delhi after the release of November factory data that unexpectedly rose 5.9%.
Ahluwalia told Reuters in an interview on Wednesday that India risked undermining the credibility of its economic outlook if it fails to reform its public finances.
