Country Is On Track To Achieve Double Digit Growth : Arvind Subramaniam

27 Feb, New Delhi

The Union Government Friday said that the country is on track to achieve double-digit growth rate.

Speaking to reporters, Chief economic adviser, Arvind Subramaniam said growth was likely to be boosted by a combination of lower oil prices, likely monetary policy easing, and forecasts of a normal monsoon.

He said, Inflation will be lower than RBI target of six per cent by 8th January 2016. The inflation forecast will help easing monetary policy.

Subramaniam said, government will adhere to fiscal deficit target of 4.1 percent of GDP. He said, there is scope for big bang reforms now. Country can increase public investments and still hit its borrowing targets, Subramaniam said.

The chief economic adviser said, liquidity conditions expected to remain comfortable in 2015-16.