Comments
Indian economy has been resilient to withstand the financial crisis of 2008; but growth has currently “moderated” because of delay in completion of key projects, C Rangarajan, President of Indian Statistical Institute and advisor to Prime Minister' Economic Council, said here on Friday.
The economic growth in India has moderated to 5 per cent as compared to earlier 9 per cent and 6 per cent levels.
Absence of critical inputs like coal and power is one reason for delay in completion of key projects, he said.
According to Rangarajan, fiscal consolidation and raising the savings rate were also required to achieve high growth.
"The economy is going through a slow growth period...We need to raise savings rate to have high growth. Fiscal consolidation is also important," he said during the welcome address at the ISI convocation ceremony.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.