Thursday August 21, 11:44 AM
India's FY09 growth seen around 8 pct - official |
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NEW DELHI (Reuters) - India's economy is likely to expand around 8 percent in the year to March 2009, but 9-10 percent growth in the medium term is "achievable", the deputy chief of India's planning panel said on Thursday.
"We are targeting 9 percent growth, getting up to 10 percent. It may look ambitious with the global economic slowdown. But in the medium term, it is achievable," Montek Singh Ahluwalia told reporters.
The Reserve Bank of India expects growth in 2008/09 to slow to 8 percent from the 9.1 percent expansion notched in 2007/08.
Asked about the implications of the government's decision to hike salaries of federal employees, Montek said: "I am sure we will be able to handle that."
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