NEW DELHI: Indian economy can achieve
a growth rate of 7.5% in 2009-10. While replying to the debate on motion of
thanks to the President's address in the Lok Sabha, Prime Minister Manmohan
Singh on Friday said that the economic growth in the current fiscal could be
7.5%, more than the official estimates of 7.2% as projected by the Central
Statistical Organisation.
As in the first three quarters of the
current financial year, India has grown at an average rate of 6.7%, and to
achieve a growth rate of 7.5%, it will have to grow at 10%. While in the first
quarter, economy grew at 6.1%, in the second quarter it achieved a spectacular
growth rate of 7.9%. But, in the third quarter, because of the low agriculture
output, economic growth slumped to 6%.
However, on the face of it, to
achieve a 10% growth in the fourth quarter looks a tall claim, economists feel,
and that it could only be possible because of the low base in the corresponding
period of last fiscal year, when the Indian economy grew at only 5.8%.
At the same time, because of the recovery of monsoon during the last
phase in Sept, the agriculture output in the fourth quarter is likely to be
good. But, 7.5% growth in 2009-10 will give a big boost to the image of India in
the global arena.
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