Benign oil prices, likely monetary policy easing by the Reserve Bank and lower inflation will help the Indian economy to grow in the range of 8.1- 8.5 percent in the current fiscal, the parliament was told on Tuesday.
"The increase in GDP growth can be expected on account of factors like benign oil prices, likely monetary policy easing facilitated by lower inflation and lower inflationary expectations," Minister of State for Finance Jayant Sinha told the Rajya Sabha in a written reply.
The latest Economic Survey has indicated that the GDP growth rate at constant market prices is likely to be in the range of 8.1-8.5 percent in 2015-16, he added.
The GDP grew at 7.4 percent in 2014-15.
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