Exuding confidence that the economy is poised to resume a path of high growth, Plan panel Deputy Chairman Montek Singh Ahluwalia underscored that country’s GDP would expand by over 6% next fiscal and performance will be better in second half of this fiscal.
Further, in yet another encouraging sign for the economy, the planning commission deputy chairman also highlighted that he expects Current Account Deficit (CAD) to be significantly lower below the 3% this fiscal and in the range of 2.5%-2.7%. Additionally, he was also optimistic of the economy not breaching the fiscal deficit target at 4.8% of the GDP.
Besides, Ahluwalia also averred the next fiscal could see the first signs of strong improvement, with many projects and policies in the pipeline. In the backdrop of economic growth slumping to four year low figure of 4.4% during Q1FY14, Montek set a higher target of 8% for Indian economy.
