Chairman of the Economic Advisory Council to the Prime Minister, C Rangarajan said he expects inflation to come down to 6.5% by December end and even touch 5.5% - 6% by March end. Inflation has been a major cause of concern for the Indian government with the food price index touching uneasy double digits.
Reserve Bank of India (RBI) had taken some initiatives to ease liquidity.the RBI action coupled with increased government expenditure in the last quarter of the fiscal year would contribute to adequate liquidity.Rangarajan expects the economy to grow at 9%. He added that the Indian economy has moved on to a higher growth trajectory. “During the five year period beginning 2005-06 the Indian economy has grown at the rate of 8.5% per annum. This includes the crisis of 2008-2009."
In the current year the economy will grow between 8.5-9%. So the growth rate for manufacturing and the services sector will be in excess of 9%. There is no doubt that the Indian economy has moved on to higher growth trajectory. The expectation is that the Indian economy will continue to grow at 9% per annum for the next decade or beyond,
Reserve Bank of India (RBI) had taken some initiatives to ease liquidity.the RBI action coupled with increased government expenditure in the last quarter of the fiscal year would contribute to adequate liquidity.Rangarajan expects the economy to grow at 9%. He added that the Indian economy has moved on to a higher growth trajectory. “During the five year period beginning 2005-06 the Indian economy has grown at the rate of 8.5% per annum. This includes the crisis of 2008-2009."
In the current year the economy will grow between 8.5-9%. So the growth rate for manufacturing and the services sector will be in excess of 9%. There is no doubt that the Indian economy has moved on to higher growth trajectory. The expectation is that the Indian economy will continue to grow at 9% per annum for the next decade or beyond,
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