India likely to grow 7 pc next fiscal

The Indian economy is expected to grow at least 7 per cent in the next financial year on the back of stimulus measures taken by the Government, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.

"The world economy expects a recovery in the second half of the next fiscal... In the coming year, India's growth will be at least seven per cent," Ahluwalia told reporters here on the sidelines of a seminar.

"Compared to other countries, we are doing reasonably well... We are growing below our potential. Many sectors are feeling the pain. Right now, the foremost challenge is to restore the growth momentum of the economy," he said.

PTI