November 16, 2017

Indian Economy Recovering From ‘Temporary Blip’

India’s economic slowdown has bottomed out and should start moving upwards after recovering from the ‘temporary blip’ seen during the recent structural changes, Finance Minister Arun Jaitley said.

Addressing investors today at the Morgan Stanley annual conference here on ‘India: Structural Reforms and Growth Path Ahead’, Jaitley talked about the massive economic reforms undertaken by India.

“I think the bottoming out of the economy is complete and now it should start moving upwards. The global economy is also moving up.

As part of the summit, Jaitley met the senior management of Morgan Stanley and addressed a gathering of senior fund managers and key financial institutional investors.

Jaitley said India’s basic parameters are quite stable as the country grew at a rate of 7-8 percent over the last three years.

“Therefore, we need over the next, at least, a decade, if not more, significantly higher growth rates in order to go ahead with expansion plan of the Indian economy,” Jaitley said.


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