India to attain 9% growth in near future: Kaushik Basu

The former chief economic advisor (CEA) in the finance ministry, Kaushik Basu has expressed the hope that India would achieve the 9% growth in the near future. Basu left the government after his term as CEA in August 2012 and now is appointed as the Chief Economist of the World Bank. He is expected to take over the charge from October 1, 2012.

Basu said that the European economies will face huge turmoil up to 2014. So the actual growth of the economy will be slow till 2014. On ranking India’s economic performance in the past 3 years as 'B+' on a scale of A to Z, he said India has been growing 9% and more before the global financial crisis of 2008. However, the growth rate in 2011-12 had dropped to nine-year low of 6.5%.