Kolkata: The Centre was expecting over six per cent growth of gross domestic product (GDP) during 2003-4, provided there was normal monsoon during the year.

"The economy is expected to grow by over six per cent during the next fiscal, assuming that there is no drought-like situation," Dr Tarun Das, economic advisor, Union Ministry of Finance, said on March 3.

The agriculture sector, he said, was likely to register a growth of about four per cent while industry and services sectors would grow by six per cent and seven per cent respectively.

The overall GDP growth rate in the current year was likely to be about 4.4 per cent with the vagaries of monsoon depressing the agricultural growth.

With the economy already showing signs of recovery, the Budget provisions would act as a catalyst to further the growth rate in the next year, he said.

Asked about possible adverse impact of any war breaking out in Iraq, he said, "It will not affect the GDP growth. Instead, it may boost our economy further".

With a comfortable foreign exchange reserve of $ 76 billion, there should not be any worry on the external front and the exports are likely to maintain its growth under such circumstances, he said.

PTI