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India to grow at 6.4% in 2013- UN
April 19, 2013, 8:43 am

[AP]

Mr Chidambaram said the government was targeting a growth of 6.1-6.7 per cent for the current fiscal year at the Budget earlier this year [AP]

The Indian economy is likely to grow 6.4 per cent this year, outpacing the six per cent expansion in developing Asia-Pacific economies in the same period, a United Nations (UN) report said on Thursday.

“India is expected to recover from its relatively low five per cent growth in 2012 to 6.4 per cent in 2013…Economic growth in the developing countries of Asia and the Pacific is projected to inch up to six per cent in 2013,” United Nations’ Economic and Social Survey of Asia and the Pacific 2013 said.

Unveiling the report in New Delhi, India’s Economic Advisory Council chairman Chakravarthi Rangarajan said: ” We need to organise ourselves to go back to pre-crisis level of growth rate.”

In the Budget, Indian finance minister Palaniappan Chidambaram had said the government was targeting a growth of 6.1-6.7 per cent for the current fiscal year.

Mr Chidambaram is currently in Washington to attend the annual Spring meeting of the International Monetary Fund and the World Bank.

“In the space of 22 years we have opened practically 90 per cent of India’s economy,” Chidambaram told the popular Charlie Rose Show in an interview yesterday noting India’s reforms process.

With inputs from Agencies