Growth to rebound from Oct, says Basu

Written by Press Trust of India | New Delhi | Updated: Jun 30 2012, 08:07am hrs
Indias economic growth, which dipped to 9-year low of 6.5% in 2011-12, is expected to rebound from October, chief economic advisor Kaushik Basu said on Friday.

He also said the government was working to remove trust problems with the industry.

We are hopeful that economy is going to bounce back within 4-5 months. I mean its October. Before that I cant realistically say that there will be an improvement, but October onwards, he told reporters at the Statistics Day 2012 meet organised by the government.

He also said that inflation, which is hovering at over 7.5%, will start moderating from September onwards.

Basu further said, We want to work hand in hand with the industry. There is element of trust problem between industry and government that has happened. Over the last several months we were trying to correct it and we will try to correct this as much as possible in the coming months.