Economy

Indian economy will return to 9 percent growth: Meena

Minister of State Namo Narain Meena. File photo

Minister of State Namo Narain Meena. File photo   | Photo Credit: Rajeev_Bhatt

The Indian economy will soon be back on the 9 per cent growth path, with the government’s stimulus measures after the global economic meltdown spurring estimated expansion of 7.2 per cent in 2009-10, Parliament was informed today.

“Given the current pace of economic recovery, the economy is poised to revert to the 9 per cent growth path,” Minister of State for Finance Namo Narain Meena told the Lok Sabha in a written reply.

“Policies and reform measures to facilitate higher growth are calibrated based on the emerging economic situation,” he added.

The minister said the effect of the stimulus measures was reflected in growth in real GDP of 7.2 per cent in 2009-10 (advance estimates) compared to growth of 6.7 per cent in 2008-09.

“Similarly, the growth in manufacturing GDP increased from 3.2 per cent in 2008-09 to 8.9 per cent in 2009-10 (advance estimates),” Mr. Meena added.

On the fiscal deficit, the minister said that during the 2009-10 fiscal, up to February, it was Rs 3,80,901 crore. The figures for the last quarter of FY10 and the entire fiscal are not available yet.

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Printable version | Apr 3, 2020 8:12:33 AM | https://www.thehindu.com/business/Economy/Indian-economy-will-return-to-9-percent-growth-Meena/article16299314.ece

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