Finance Minister Nirmala Sitharaman said, India is looking at registering double-digit growth this year, , adding that the nation will be one of the fastest-growing economies. Meanwhile, the economic growth next year will be in the range of 7.5-8.5 percent that will be sustained for the next decad.
During a conversation at Harvard Kennedy School in Boston on October 12 Ms. Sitharaman said, “As regards the growth of India, we are looking at near close to double-digit growth this year and this would be the highest in the world. And for the next year, on the basis of this year, the growth would definitely be somewhere in the range of eight percent.
She noted that while the Ministry of Finance has not done any assessment as yet about the growth number, but the World Bank, IMF and rating agencies have all come nearer to this kind of growth number for India.
“So, the next year would also be somewhere in the range of eight to nine [per cent], 7.5 to 8.5 [per cent] would be the growth. And I expect that to be sustained for the next decade because of the rate at which expansion in core industries is happening, the rate at which services are growing, I don’t see a reason for India to be any way lesser than, in the next coming decades,” she added.
Ms. Sitharaman also added, "I expect that to be sustained for the next decade because of the rate at which expansion in core industries is happening, the rate at which services are growing, I don't see a reason for India to be any way lesser than in the next coming decades."