India’s growth picking up in 2012-13

ndia’s economy is expected to pick up in the fiscal year starting on April 1 after growing at its slowest pace in three years in the current fiscal year, a government advisory panel said on Wednesday. The panel said it expected the economy to grow by 7.5 and 8 per cent in the next financial year after growing 7.1 per cent in the year that ends on March 31. The forecast for the current fiscal year is slightly higher than the government’s official growth forecast of 6.9 per cent issued earlier this month. The Indian economy has lost momentum as eurozone debt troubles coupled with high interest rates and policy paralysis at home have hit capital investment.