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India likely to grow at 6%: Montek

By Lalit K Jha in Washington
April 27, 2009 16:22 IST
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India is expected to record a gross domestic product (GDP) growth rate of 6 per cent this fiscal, which will improve further in the next fiscal with likely recovery in the global economy, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.

"Next year they (IMF) expect the global economy to improve. I am hoping that our economy will also be able to improve," he said while talking Indian news agencies on the sidelines of the G-20 ministerial meeting.

Although the Reserve Bank too has projected a growth rate of 6 per cent during the current fiscal, many global agencies like the International Monetary Fund and World Bank expect the Indian economy to expand by only 5.25 per cent and 4 per cent, respectively.

Noting that the global economy is passing through a very severe phase, Ahluwalia said, "We are weathering it better than most countries."

The India economy during 2008-09, according to advance estimates for national income released by the Central Statistical Organisation (CSO) in February, was estimated to grow by 7.1 per cent, down from 9 per cent in the previous fiscal.

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Lalit K Jha in Washington
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