India's economy grew by a modest 4.4 per cent in 2002-03, short of the projected growth of 5.6 per cent. Agriculture grew by only 2.6 per cent in 2002-03, after recording a strong growth of 5.7 per cent in 2001-02.

But economists paint a different and a brighter picture for this fiscal. Riding on the back of very good monsoon the Indian economy is expected to grow anywhere between 6.7-7.2 per cent.