Finance Ministry expects GDP growth to exceed 7.5 pct this fiscal

Enthused by 8.2 percent GDP growth in the first quarter of 2018-19, the Finance Ministry today expressed the hope that economy may expand at 7.5 percent in the current fiscal.

The country's economy is on a steady growth path, Economic Affairs Secretary S C Garg said while commenting on the April-June quarter growth number.

The robust performance this quarter gives hope that growth could exceed even estimates 7.5 percent this fiscal, he said.

He also said that the fiscal deficit will not exceed 3.3 percent of the GDP in 2018-19.

On the falling rupee, he said it will soon be in the range of Rs 68-70 against the US dollar.

The rupee closed today at a record low of 71 to the dollar.

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