India will emerge from a bout of economic malaise with an annual growth rate of 8% in the coming years, according to India’s finance minister, Palaniappan Chidambaram. That would trump China, whose economy grew by 7.7% last year.
The minister, who is facing a general election in the coming months, said his government has laid the groundwork for solid growth, even as the International Monetary Fund predicts the country’s growth rate won’t top 7% between now and 2018.
Chidambaram predicted 6% growth in the upcoming fiscal year, rising to 7% the following year, before hitting the 8% mark.
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