India to return to 8-9% growth in 1-2 yrs: WB chief

New Delhi, Dec 4 (PTI) World Bank President Robert
Zoellick Friday said India is likely to return to high growth
of 8 to 9 per cent in a year or two, helped by strong fiscal
and monetary actions to counter the global financial crisis.

The country's 11th Five Plan ending in 2012 envisaged
achieving an average nine per cent growth rate. GDP growth
slipped to 6.7 per cent in 2008-09, after three years of over
nine per cent growth, as a result of the global crisis.
Zoellick, winding up his four-day visit here, said return
to that level appears possible over the next one to two years.
"India has emerged from the economic crisis with a clear
vision of what it will take to accelerate back to earlier
growth rates and beyond," he said.
The strong fiscal and monetary policies of India had
helped counteract a decline in exports and withstand some of
the external shocks brought on by the multiple food, fuel and
financial crises, he said.
Impressed with the country's macro-financial management
and anti-poverty programmes, Zoellick said India is important
for global recovery. MORE PTI MG
MYR


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