According to Mr Prahlad Basu chairman of Strategic Management Group, Indian economy is showing sure signs of recovery but sustaining the momentum is important.
Mr Basu said that “In the Indian economy green shoots are no doubt visibly scattered across. Growth is in steel, cement, construction and telecommunications industries, but sustaining the growth momentum is very very important.”
He added that after growing at 9% per year for four years, the economy slowed down to 6.7% in 2008-09 under the impact of the slowdown. In the first quarter of this fiscal, the country grew at 6.1% against over 7.5% a year ago.
Industry however has started picking up, recording a growth of 7.2% in July and 10.4% in August. He further said the companies need continuous upswing from here on and not just the episodic breakthrough
(Sourced from http://www.steelguru.com/news/index/2009/10/26/MTE3NjQ1/Sustaining_economic_growth_momentum_is_crucial_-_Mr_Basu.html)
Monday, October 26, 2009
Sustaining economic growth momentum is crucial - Mr Basu
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