Indian economy's growth slashed to 5.6% in 2012-13 by NCAER

The NCAER report said that the positive impact of government efforts to improve business sentiments that began in September may be realised in the third and fourth quarter where the GDP growth rate is expected to improve.

India has registered just 5.4 per cent GDP growth in the first half of 2012-13. In order to achieve the GDP growth rate of more than 5.5 per cent in 2012-13, the economy should expand at least 5.8 per cent in the second half of the year, the report added.

It also estimated upward revision in WPI based inflation.

"The year-on-year increase of WPI prices has been revised upward due to increase in domestic oil prices. We estimate 7.7 per cent WPI inflation for the current fiscal," it said.

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