New Delhi: Despite reeling under skyrocketing inflation, slowdown in the industry sector, insecurity in the share market and decreasing foreign investment, the government wants to assure domestic and foreign investors that the Indian economy is on the right track. For this, the Central government has decided to release the growth rate next week.

With the release of the new estimated Gross Domestic Product (GDP) figures, the government is also likely to announce some important measures relating to economic reforms.

According to the highly placed sources in the Finance Ministry, the government has decided to release the estimated growth rate before the stipulated time witnessing the present market scenario. These figures would be more concrete and close to reality.

Generally, data is released after every three months. However, it has been seen that the Finance Minister or officials from the Ministry verbally comment on the expected economic growth rate, but the release of growth rate in the middle of the year will be a first of its kind.

Sources said a high level Indo-US meeting is likely to be convened in Delhi this month over the investment projects. Several top US companies willing to invest in the Indian market will attend the meet.

By releasing the growth rate, the Centre will assure them that there is no dearth of potential for investments in India.

In fact, several top US industrialists had expressed their apprehensions during Pranab Mukerjee’s recent visit to the US regarding India’s future growth rate.

In addition, the Centre will take some measures for trust building among the investors. The decision is expected to be taken over the Foreign Direct Investment (FDI) in retail sector.

Prime Minister has convened two important meetings to remove bottlenecks in the infrastructure including power sector.

Finance Ministry had pegged the growth rate at 9 percent, while other economic institutions including International Monetary Fund (IMF) have projected the rate at below 8 percent. The Finance Ministry is likely to revise the growth rate at 8-8.5 percent.


JPN/Bureau