Describing the 5 per cent growth rate estimated for the current fiscal as ‘somewhat disappointing’, World Bank President Jim Yong Kim, on Monday, expressed cautious optimism on the Indian economy getting back to a higher growth path of 6 per cent in 2013-14 and more thereafter.
Speaking to reporters after his meeting with Finance Minister P. Chidambaram, Dr. Kim, who is on a three-day visit to India, felt that the country’s economic situation would improve along with improvement with the global market scenario.
“Growth rate of 5 per cent here is one that has been somewhat disappointing but we are very encouraged by what has happened and what will happen and we think India will get back to higher levels of growth…India is going to grow by 6 per cent next year and we hope for even more increase in future,” the World Bank President said.
Dr. Kim pointed out that as the Indian economy was subject to the impact of the global slowdown, there would be improvement in its growth rate in keeping with a positive trend in export markets. “As export market starts doing better, we think India will do better as well,” he said.
