July 23, 2014 8:31 PM

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World Bank's Chief: Optimistic of India reaching 6% plus growth rate

World Bank's president Jim Yong Kim says, he is very optimistic of India reaching six percent plus growth rate. Kim commended the new government's commitment towards fiscal consolidation – as heard in Budget 2014. In his second visit to India, Kim met Finance Minister Arun Jaitley and termed the interaction an extremely productive meeting. Kim told a TV channel that he was encouraged by the fact that the government is committed to the 4.1 percent budget deficit number and that it will look into consolidation matters. He said, he looks forward to developing even further partnership with India. The World Bank president said fuel subsidies should be tackled, as 50 percent of subsidies go to the top 40 percent of Indians.He complimented the RBI's policies in helping stabilise India's macro economic situation. He said, India must reap the demographic dividend right now.

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