The government today said that the country is on track to achieve double-digit growth rate. Speaking to reporters, Chief economic adviser, Arvind Subramaniam said growth was likely to be boosted by a combination of lower oil prices, likely monetary policy easing, and forecasts of a normal monsoon.He said, Inflation will be lower than RBI target of six per cent by 8th January 2016. The inflation forecast will help easing monetary policy. Mr Subramaniam said, government will adhere to fiscal deficit target of 4.1 percent of GDP. He said, there is scope for big bang reforms now. Mr Subramaniam said country can increase public investments and still hit its borrowing targets. The chief economic adviser said, liquidity conditions expected to remain comfortable in 2015-16.
News On AIR | February 27, 2015 5:51 PM
India on track to achieve double-digit growth rate: CEA Arvind Subramaniam