Economic think-tank NCAER has revised up its projection for the country's economic growth to 7.6 per cent for the current fiscal, compared with the earlier prediction of 7.3 per cent on forecast of normal monsoon. In its quarterly review of the economy, NCAER said prospects for the agricultural sector in 2017-18 remain optimistic on forecast of good rains. Recent estimates show that foodgrain production in 2016- 17 has touched a new record of 273.4 million tonnes or 8.7 per cent higher as compared to last year. Also, the level of water storage in the country’s main reservoirs in 2017-18 is better compared to last year. In fact, better than the average storage over the last ten years.