NEW YORK: RBI Governor Raghuram Rajan has exuded optimism that the country will be "solidly" in the 5 per cent growth bracket during the course of this fiscal and accelerate further in the next financial year. He however said that the economic recovery is still uneven.

The RBI governor also said he is not "overly" worried about any interest rate hike by the Federal Reserve, saying the country had enough foreign exchange reserves.

"It is still an uneven (economic) recovery, so my guess is that this quarter may be a little weaker than the previous quarter but I think over the course of this year, we will be solidly in the five per cent growth range and by next year we should be solidly in the six per cent growth range," he said.

Dr Rajan was speaking at the Institute of International Finance in Washington on Saturday.

He also said there was no need for "grand-sounding announcements" and that the India needed to "fix the plumbing," including correcting problems in coal and gas sectors to get the Indian economy back on track.