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In spite of the apex bank's conservative forecast of 6% economic growth, the finance minister in his concluding speech on Finance bill in the upper house, stated that India's economy would grow by 6.7% in the current year, reported the PTI.
The Minister said that the slowdown has been arrested and signs of pick-up are seen in the manufacturing sector, while expressing confidence that the desired level of growth can be achieved. He said that sectors such as steel, cement and construction have improved and would result in maintaining the growth level of 6.7% as in the previous fiscal.
Meanwhile, media reports that Deutsche Bank also has predicted India's economic growth near 7% in the current fiscal, quoting Chief Economist of Deutsche Bank Group Norbert Walter. He said the country would grow 7% with normal monsoon.
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