India's economic growth is expected to turn around in about six months, said Montek Singh Ahluwalia, deputy chairman of planning commission.
Ahluwalia was speaking at a banking conference on Monday.
India's finance minister P. Chidambaram called on Saturday for the country's central bank to take "calibrated risks" to support the struggling economy as a reciprocal measure to the government's fiscal efforts, and said the country's growth has bottomed out.
India's industrial output rose modestly in August, but not enough to end a long slump in Asia's third-largest economy, while inflation slowed, improving the case for a cut in interest rates that both businessmen and politicians have been pleading for.
|Gold Rate in Chennai||Rs. 29820.00 (0.57%)|
|Gold Rate in Mumbai||Rs. 30500.00 (0.16%)|
|Gold Rate in Delhi||Rs. 30300.00 (0%)|
|Gold Rate in Kolkata||Rs. 30570.00 (0.33%)|
|Gold Rate in Kerala||Rs. 28880.00 (0.28%)|
|Gold Rate in Bangalore||Rs. 29100.00 (-0.14%)|
|Gold Rate in Hyderabad||Rs. 29650.00 (0%)|