Reserve Bank of India expects the Indian economy to grow @ 6% in the financial year 2009-10. The Finance Minister, Pranab Mukherjee on the other hand is much more optimistic and pegs the rate of growth at 7%. The Planning Commission of India said that a 7.4 % growth rate is possible for the current financial year. My personal opinion is that we could land up with a strong growth of even 8% in fiscal year ending March 31, 2010. The reasons for that are multiple. The first indication came with the return of the UPA government at the center earlier this year in the Lok Sabha elections. This was an excellent indicator of the consumer confidence in their government. The second signal came with the appointment of an excellent union cabinet in terms of experience and competence. These two put together signaled the optimism of the country. The union budget followed and fair-minded people agreed with the Minister of Finance in keeping the wild expectations of ‘Corporate India’ in check. The ‘Central Government’ has announced a robust agenda for the next five years and has allocated resources for the same. These are the fundamentals of good governance and that breeds investor confidence. Just THINK about these fundamentals!
Filed under: Indian Economy Tagged: | Central Government, consumer confidence, Corporate India, current financial year, excellent indicator, Finance Minister Pranab Mukherjee, Indian Economy, Lok Sabha, Minister of Finance, Planning Commission of India, Reserve Bank of India, Union Cabinet, UPA government
