India’s Economic Growth to be up 6%

India’s economic growth will pick up to 6 percent in the current financial year, said Finance Minister P Chidambaram, adding that the government is largely responsible for putting the economy back on a more stable footing.

“I’ve done more heavy lifting in the last 12 months than the RBI [Reserve Bank of India],” Chidambaram told CNBC on the sidelines of the Asian Development Bank’s annual meeting in Kazakhstan.

Reserve Bank of India Governor Raghuram Rajan has received much acclaim for restoring financial stability and regaining investor confidence following an unprecedented capital flight during the summer of 2013, which was triggered by concerns over the Federal Reserve scaling back its monetary stimulus.


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