PM’s advisory council projects 7% growth

PM’s advisory council projects 7% growth
The Economic Times, June 12, 2009, Page 9

NEW DELHI: Sharing the optimism of Prime Minister Manmohan Singh, his advisory council on Thursday projected a growth rate of 7% for the current fiscal, reports Our Bureau. “I think it should be around 7%,” Prime Minister’s Economic Advisory Council (PMEAC) chairman Suresh Tendulkar said. Although the Reserve Bank, in its annual monetary policy in April, forecast a growth rate of around 6% for the current fiscal, the prime minister felt otherwise, saying the growth rate would at least be 7%. “We will maintain at least 7% growth rate. In the short run, we can’t do better (because of the global economic crisis) but this is not good enough,” Mr Singh said in Parliament, adding that with efforts, the country can revert to 8-9% economic growth.