Growth to Rebound From October, says Basu
Facebook Twitter google+ RSS Feed

Growth to Rebound From October, says Basu

Friday, 29 June 2012, 10:05 Hrs
cmt right
Comment Right
cmt right
cmt right
Printer Print Email Email
New Delhi: India's economic growth, which dipped to 9-year low of 6.5 per cent in 2011-12, is expected to rebound from October, Chief Economic Advisor Kaushik Basu said.

He also said the government was working to remove "trust problems" with the industry.

"We are hopeful that economy is going to bounce back within 4-5 months. I mean its October. Before that I can't realistically say that there will be an improvement, but October onwards," he told reporters at the 'Statistics Day 2012' meet organised by the government. He also said that inflation, which is hovering at over 7.5 per cent, will start moderating from September onwards.

Basu further said, "We want to work hand in hand with the industry. There is element of trust problem between industry and government that has happened. Over the last several months we were trying to correct it and we will try to correct this as much as possible in the coming months."

Basu further said that while economic growth will pick up any way, "if we can together a couple of reforms" things would speed up.

"We have been stressing that we will have to get a couple of reforms in place for which the big stumbling block has been getting all the political parties in the coalition together. So that we have been working," he added.

Without specifying about the reforms, Basu just said "these have been part of government agenda for the last 2-3 months".

His comments come amid hectic activity to spur the economy following Prime Minister Manmohan Singh's taking charge of the finance portfolio after Pranab Mukherjee resigned this week to contest presidential election
Source: PTI
Experts on SiliconIndia
Santhosh  K
Sr. Soft. Engg.
Oracle India
Nehal Vyas
Sr. Team Lead
Cyberoam Tech.
Rani Malli
Sr. Director
Sr. Executive
Vijay Balkrishna Konduskar
Business Consultant
Imans Web Tech
Dr L P  Sharma
Technical Director
Reena Khanna
Dellas  Asse
sys-network admin
Computer Station
Write your comment now
Submit Reset