The government of India has lowered the growth project to 5.7 per cent for the fiscal year 2012-13.
Indian economy is likely to grow between 5.7 per cent and 5.9 per cent, according to media reports.
It was said in the mid-year economic review by the finance ministry on Monday.
However, the fiscal deficit will remain at 5.3 per cent, and might not go beyond the target. The budgeted forecast for GDP was 7.6 per cent.
The high oil subsidies and sluggish tax revenue weight high on Indian economy.
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