India's Finance Minister Arun Jaitley, in delivering his maiden budget, says the economy may grow by up to 5.9% in the current fiscal year - AFP Photo.
NEW DELHI: India's economy is expected to grow by up to 5.9% in the current fiscal year, the new government of Prime Minister Narendra Modi said in a major economic report on Wednesday that called for fiscal consolidation to bring down inflation.
The report, presented to parliament one day before Finance Minister Arun Jaitley delivers his maiden budget, also warned of a downward risk to growth due to weak monsoon rains, and set the lower end of the growth spectrum at 5.4 percent.
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