With discernible signs of economic recovery, economic think-tank National Council of Applied Economic Research (NCAER) has upped its GDP (gross domestic product) growth projection for the current fiscal to a conservative 7 per cent, just a tad higher than the 6.9 per cent forecast earlier, but still way below the revised estimates by the government and the Reserve Bank of India (RBI).
“The overall GDP growth for the year is pegged at 7 per cent, somewhat above our previous forecast of 6.9 per cent provided in October 2009,” the NCAER said in its ‘Quarterly review of the economy’ released here on Wednesday.
