"Third quarter GDP figure could be more than 5 percent. Overall growth rate for the FY'14 is estimated to be around 4.9 percent of GDP, which implies growth rate in the second half will be 5.2 percent but there could be some adjustment in quarter 1 and quarter 2 growth figure.
     
"But generally speaking I think it (growth in third quarter of FY'14) could be in the range of 5 percent," Rangarajan said at an event here.
     
He further said that Current Account Deficit (CAD) in the current fiscal would be around 2 percent.
     
"CAD could now be close to 2 percent of GDP in the current fiscal. Last year the CAD was USD 88 billion. The CAD this year could be USD 45 billion, which would be roughly 2 percent of GDP," Rangarajan said.
     
The PMEAC Chairman expressed disappointment over delay in execution of large scale investment projects.
     
"Delay in completion of projects and critical inputs are hitting the economic growth. India's economy could grow at an annual rate of as much as 7 percent if large-scale investment projects are implemented quickly," Rangarajan said.
     
According to advanced estimates released recently by the Central Statistics Office, GDP growth for 2013-14 is estimated at 4.9 percent, compared to the growth rate of 4.5 percent in 2012-13.

(Agencies)

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