Growth can surpass 7.5% if rains forecast comes true: Arun Jaitley

India may grow faster than 7.5 per cent gross domestic product (GDP) growth rate it recorded last year, if predictions of above-average monsoon rainfall come true, Finance Minister Arun Jaitley has said. If the predictions of good monsoon were to come true, "we are capable of improving upon our growth rate," he said, speaking on Steering India Towards Growth at an event organised by Carnegie Endowment for International Peace.

Jaitley, on the first day of his seven-day US visit, said amid a weaker globe outlook, India's experience of strong economic growth, comfortable price situation, low current account deficit, and adherence to a fiscal recovery path have projected it as an outpost of opportunity for global investors.