Manufacturing sector to boost growth rate to 7.5 per cent in next fiscal: Rangarajan

Chennai:

The country will have an additional growth rate of .5 per cent in the next fiscal year with the recovery in manufacturing sector, according to Chairman of Economic Advisory Council to the Prime Minister Dr C Rangarajan.

Speaking on the sidelines of MSE meeting of state level policy makers to give findings of research project on integrating pollution abating economic instruments in goods and services tax regime, Dr Rangarajan, who was also former Reserve bank governor, said, “the manufacturing growth was low this year but during the last quarter it has recovered nad is looking better.”

“I expect this trend to continue this year also. As such during the next fiscal the country will have a growth rate of 7.5 per cent,” Rangarajan said.