'FY '15 GDP growth at 5.5%'

 Strong macroeconomic factors are likely to push the economic growth to 5.5 per cent in the current fiscal, Finance Secretary Arvind Mayaram said on Friday.

"Growth is going to claw back because our fundamentals are strong and macroeconomic parameters are well under control. The expectation is that in the current fiscal we should be around 5.5 per cent and next year we should cross 6 per cent," Mayaram said.

He said the economy is likely to get back to a higher growth trajectory going forward.
 The newly-appointed finance secretary said that inflation continues to remain an area of concern, but refused to comment on the impact of El-Nino weather phenomenon on the inflation. "Inflation is a worry. I won't be able to say anything about El-Nino because the India Meteorological Department (IMD) hasn't said anything definitively," he said.

The weather department has forecast that the country may get below normal monsoon this year and there is a 60 per cent possibility of El Nino during monsoon.

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