New Delhi, January 01: Indian economy would expand by 8 per cent during fiscal 2010-11 and return to the high growth trajectory of nine per cent a year later, Prime Minister’s economic adviser C Rangarajan said today.
“The economy would grow between 7 and 7.5 per cent in the current fiscal, it would grow by eight per cent in 2010-11 and in the year after that growth would be nine per cent,” he told PTI.
The optimism of Rangarajan, Chairman of Prime Minister’s Economic Advisory Council (PMEAC) and former Governor of the Reserve Bank, is based on firm recovery in the global economy and normal monsoon.
India’s economic growth rate slipped from nine per cent to 6.7 per cent during 2008-09 on account of the impact of the global financial crisis.
–Agencies