Good harvest will add 40-50 bps to GDP growth: Aditya Puri, HDFC Bank

In an interview with ET Now, Aditya Puri, MD, HDFC Bank, speaks on the economy and the current outlook of the industrial production. Excerpts:

ET Now: We have seen consistent, yet, low figures in industrial production and various PMI numbers. Do you believe growth will take time to pick up?

Aditya Puri: Growth, like it went down gradually, will come up gradually. However, we have to take into account that we have a good monsoon. I was talking to my subordinates who had went to the anaj mandi. They said that the anaj is already pouring in. This is the second good harvest. If it is a good harvest, then rural spending normally picks up. Hence, that will add about 40 to 50 basis points to GDP growth.