The Economic Survey has pegged the economic growth at a conservative level of 7-7.75 per cent for the next fiscal beginning April.
The Economic Survey has pegged the economic growth at a conservative level of 7-7.75 per cent for the next fiscal beginning April.
New Delhi:
India can add 1-2 per cent to its growth rate with economic reforms, favourable weather and supportive global conditions, Finance Minister Arun Jaitley said on March 23.
-"How do I see the situation today... at the economic front it is a great opportunity that India has,-" he said while delivering the 8th Annual NCM Lecture on 'Economic Empowerment of Minorities' here.
Jaitley said low oil, mineral and commodity prices regime has actually resulted in a transfer of wealth from producing nations to the consuming nations.
-"And to some extent it is acting to our own advantage,-" he said.
The finance minister further said the rest of the world has slowed down and in some places the situation is bordering on recession.
In the midst of a global slowdown, Jaitley said if India can grow at 7.5 per cent then it -"has a capacity to add another per cent or two to this growth rate-", if the global tailwinds are more supportive, rain gods are kinder and the country is able to move on with economic reforms.
IMF chief Christine Lagarde recently said -"India's star shines bright-" amid global economic challenges and can deliver nearly two-thirds of the worldwide growth over the next four years despite a slowing momentum.
The Economic Survey has pegged the economic growth at a conservative level of 7-7.75 per cent for the next fiscal beginning April.
