India’s Economic Adviser: Economic growth set to bounce back from over six-year low
Indian economic growth is likely to rebound from more than a six-year low of 4.5% in the July-September quarter, Sanjeev Sanyal, principal economic adviser at the Indian Finance Ministry told Reuters on Tuesday.
Key Quotes (via Reuters):
Economic growth was set to accelerate to 6% in the financial year beginning in April, compared with an estimated growth of 5.0% in the current one.
Dismisses the conservative estimates and said his numbers took into account early signs of recovery in manufacturing and a pick-up in consumer demand.
There is enough space for the central bank to further cut interest rates, however, as inflation was likely to ease following a fall in vegetable prices.
While there was a slowdown, this slowdown has by and large now bottomed out, and if anything from here on, growth is going to go up.
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