Union Finance Minister, Pranab Mukherjee will hold pre-Budget consultations with several economists today in New Delhi. These consultations are held in order to receive views on the various policies to be incorporated in the upcoming financial year 2012-2013.
The chief economic advisor Kaushik Basu in a press conference yesterday admitted that the Indian economy faced tough times in the last seven-eight months and bottomed in December. However, he added that the worst seems to be over. He also announced the introduction of a sovereign ratings index based on moody's model.
“India at an inflection point of turning around,” said Basu at the press conference. He sees FY12 GDP growth just a little above 7%. However, he sees FY13 growth higher than FY12. He also expects January inflation to be below 7%.
Source : yourmoneysite.com