5.6% growth likely next year, stable govt is vital: Citi

February 09, 2014 12:41

The Indian economy is likely to grow by 5.6 per cent in the next financial year but a stable government after elections, a pick-up in investment and good monsoon are vital factors, Citigroup has said in a report.

An occurrence of El Nino could lead to deficient rainfall in India and consequently pose a downward risk to agricultural output, the report said.

El Nino is a series of climatic changes across Pacific Ocean due to warm ocean water temperatures.

An improvement in investment would spur economic growth.

Companies would, however, wait for elections before commencing operations, it said.

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