Speaking on a TV channel last week, Union Finance Minister, Pranab Mukherjee, stated that he expected annual economic growth to pick up from the October to December quarter. India’s economic growth slowed to 6.7% in 2008-09 from rates of 9% or more in the previous three years as the global downturn hit harder than expected, and growth is expected to slow towards 6% in 2009-10. Mukherjee said there had been a steady expansion in domestic demand and savings and investment rates had picked up. < ...
