'Economy to revive in 3-6 months'
Indian economy will commence on its upward recovery curve by the middle of this year, Suresh D Tendulkar, chairman of the Prime Minister's Economic Advisory Council indicated here on Thursday
By TNN |
KOLKATA: Despite the turmoil worldwide, Indian economy will commence on its upward recovery curve by the middle of this year, Suresh D Tendulkar, chairman of the Prime Minister's Economic Advisory Council indicated here on Thursday.
"The stimulus packages and monetary policies will take some time to come into effect. This, along with, the low lending rate regime will help the economic situation. The revival process in India should begin in another 3-6 months," Tendulkar said. He was speaking at an event organised by the Merchants' Chamber of Commerce.
Tendulkar said the country's robust internal demand coupled with a well-capitalised banking system will ensure an expedited recovery process. "There has been a 4.5% growth in the agricultural sector and the harvest this year is expected to be good. Bulk of the rural purchasing power is not going to be affected.
The banks, too, as compared to the west, are doing well and hopefully the credit flow will start soon," he said. He said an exported "psychology of doom and gloom" had inflated the risk aversion sentiment in the country which, in turn, had intensified the slowdown in India.
"The stimulus packages and monetary policies will take some time to come into effect. This, along with, the low lending rate regime will help the economic situation. The revival process in India should begin in another 3-6 months," Tendulkar said. He was speaking at an event organised by the Merchants' Chamber of Commerce.
Tendulkar said the country's robust internal demand coupled with a well-capitalised banking system will ensure an expedited recovery process. "There has been a 4.5% growth in the agricultural sector and the harvest this year is expected to be good. Bulk of the rural purchasing power is not going to be affected.
The banks, too, as compared to the west, are doing well and hopefully the credit flow will start soon," he said. He said an exported "psychology of doom and gloom" had inflated the risk aversion sentiment in the country which, in turn, had intensified the slowdown in India.
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