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India's growth to turn around in six month-plan panel deputy

Source : REUTERS
Last Updated: Mon, Oct 15, 2012 08:00 hrs

MUMBAI, Oct 15 (Reuters) - 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. (Reporting by Neha Dasgupta; Editing by Prateek Chatterjee)




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