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Economy To Grow 5.8% This Financial Year: Arvind Mayaram

BI India BureauAug 21, 2014, 18:11 IST

The Indian economy is likely to grow 5.8% in FY 2014-2015, Finance Secretary Arvind Mayaram said today.

Mayaram said that industrial production data suggested that corporate order books are building up. He also expressed hoped that the Reserve Bank of India would not hold interest rates high for too long. Falling oil prices would wipe out the cost of diesel subsidies and the government will stick to its fiscal deficit target, he added.