India to return to 8-9 pc growth in 1-2 yrs: WB

Posted By: Staff
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New Delhi, Dec 4: India is likely to return to high growth of 8 to 9 per cent in a year or two, World Bank's top official said on Friday, Dec 4.

World Bank President Robert Zoellick said, "India has emerged from the economic crisis with a clear vision of what it will take to accelerate back to earlier growth rates and beyond."

Zoellick, winding up his four-day visit here, said return to that level appears possible over the next one to two years.

"The strong fiscal and monetary policies of India had helped counteract a decline in exports and withstand some of the external shocks brought on by the multiple food, fuel and financial crises," he said.

According to Zoellick, India's strong crisis management and the sustained global demand from the USD 1.2 trillion economy is playing an important role in helping the world recover from the global economic crisis.

"We all look to India as a rising global economic power," Zoellick added.

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