The government stuck to its 6.5% growth forecast for the year, but chief economic advisor V. Anantha Nageswaran said he was "more comfortable with an upside to this projection than before". Citigroup revised its growth forecast for the financial year upwards by 50 basis points to 6.7% citing a pick-up in investment activity. Gross fixed capital formation, an indicator of investment, rose 11% in the July-September quarter.
