India to see 9% growth by FY20: D&B

Indian arm of Dun & Bradstreet, a global business information firm, today pegged the country's economic growth at average 7.5% during 2014-15 to 2019-20, compared with 6.7% in the previous six years. The six-year period starting from the current financial year would cover mostly the current tenure of the Narendra Modi government.

In its report, India 2020: Economy Outlook, Dun & Bradstreet India estimated the economic growth to reach 9% by 2019-20, which India had achieved for three consecutive years before the global financial crisis hit the country in 2008-09.

The report was released a day after finance secretary Arvind Mayaram pegged India's economic growth at 5.8% for 2014-15. India's economy grew sub-5% for the previous two years in a row.

 

The report said India's per capita GDP would almost double to reach close to Rs 1.9 lakh by 2019-20 from that in 2013-14.

D&B India said the economic growth momentum will gain traction as India is expected to witness a change in the politics surrounding economic policy-making.

"These are exciting times for India with the ushering in of a new majority Government at the Centre after three decades.The new Government has hitherto relayed the right signals, which has only heightened the sense of exuberance amongst India Inc.," said Arun Singh, senior economist D&B India.

He said the next six years would be very crucial as India traverses the path towards a more productive and competitive economy.