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India Expects Its Economy to Pick Up
India's economy, which has expanded an estimated 5% in the fiscal year ending March 31, will grow 6.1%-6.7% in the next 12-month period, according to the country's Finance Ministry.
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India's economy, which has expanded an estimated 5% in the fiscal year ending March 31, will grow 6.1%-6.7% in the next 12-month period, according to the country's Finance Ministry.
Some Indian economists are skeptical of the forecast. A year ago, they note, the ministry predicted 7.6% expansion in the current year.
The ministry says slower growth in the last two years should be a "wake-up call" to increase the pace of government reforms and job creation.
India then announced a plan to boost public spending 16% in the coming year.
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