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Indian economy may grow around 5%: RBI chief

Indian economy may grow around 5%: RBI chief

India’s economy may grow at 5 to 5.5 percent rate in 2013-14, Reserve Bank of India Governor Raghuram Rajan said.

In an article written on Project Syndicate, the governor said this rate of growth is “not great, but certainly not bad for what is likely to be a low point in economic performance”.

Further, he expressed optimism in overcoming the twin deficit problem of massive current account and fiscal deficits.

He said these issues are not structural and they can be fixed with modest reforms.

He attributed the current slackness in the economy to the substantial fiscal and monetary stimulus that its policymakers injected in the aftermath of the 2008 financial crisis.

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