SEBI Reg. Investment Advisor

Download App
Help Center Pricing
Money Works 4 Me Logo MoneyWorks4Me
Login Get Free Account
Sign Up

MoneyWorks4Me

Log In Sign Up Schedule Free 15‑min Call
Login Get Free Account
Sign Up
  1. Home
  2. Stock Market News
  3. PMEAC lowers GDP growth projection to 6% for current fiscal

PMEAC lowers GDP growth projection to 6% for current fiscal

26 Oct 2012 Evaluate

In light of subdued manufacturing sector performance, Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan lowered the growth projection for the current fiscal to 6 per cent from 6.7 per cent estimated earlier. The PMEAC, in its 'Economic Outlook for 2012-13' report released in August pegged Indian economy’s growth rate at 6.7 per cent.

However with the hope that economy would pick-up in second half, the Prime Minister's key advisor, estimated the growth rate of 6%. Rangarajan said the economic growth in July-September quarter would be around 5.5 per cent, ditto to first quarter, as the recent set of factory output data failed to show any improvement. Industrial output in the April-August period this fiscal was at 0.4 per cent, way lower from 5.6 per cent in the same period in 2011-12.

Further, reasoning good agriculture produce and some pick-up in industrial activities in the key infrastructure areas, PMEAC’s chairman, is expecting some recovery in economy’s growth rate in the second of the current fiscal. Rangarajan said, “I see a strong pick up in the growth of key manufacturing sectors like coal, power, road and railways. The monsoon has turned out to be little better than what was expected, therefore agriculture production may do better than what was originally expected.”

He further underscored that since the growth in manufacturing production was lower in the second half of 2011-12 fiscal, the benefit of lower base which would be accrued in the current fiscal, could push up the growth. Furthermore, the chairman emphasized the need of strong action at the ground level to achieve production and capacity creation targets, as a catalyst to higher growth.

Register Now to get our Free Newsletter & much more!
2026 ©The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me® is a registered trademark of The Alchemists Ark Pvt. Ltd.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×