Finance Minister Arun Jaitley has said that the India’s economic growth rate is expected to increase to 7.6 percent in 2015-16, indicating that the growth has been improving in India. While talking about the position of revival of the Indian economy from the world-wide economic recession as on date, Jaitely said that the government has taken various initiatives to boost the growth of the economy, and industrial growth in particular. The growth rate increased from 6.6 percent in 2013-14 to 7.2 percent in 2014-15 and is estimated to have further increase to 7.6 per cent in 2015-16.
Jaitley further said that as per the International Monetary Fund, the global output growth remained positive, although it has been projected to have declined from 3.4% in 2014 to 3.1% in 2015.
Last month, stressing that India is on a stable and higher footing when compared to other nations, Jaitley had said India should emerge out of the global crisis much stronger as it is relatively unexpected by some of the factors that have caused the global crisis. Jaitley stated that even though there is the global slowdown, India has comparatively stood out.