'Govt needs to do much more to revive growth'

Given the current economic scenario, it is difficult to achieve higher growth in the medium term and government needs to take a host of steps to achieve the desired goal, L&T Finance Holdings chairman and managing director Y M Deosthale said today.
"We will continue to be one of the fastest growing economies. Still, it is unlikely that for next two-three years, we will be able to achieve 8-9 per cent of growth," he told the industry lobby IMC's general body meeting.
In spite of this sustainable growth, the country will still continue to have some issues and problems to get resolved. Therefore, at least in the short-term it is unlikely that the country will have a significant jump in the growth rate than what we have at present," Deosthale said.

"In my opinion, it is not possible for the new government to take all those steps in the immediate future and it will take time to do the same," he said.