The Economic Advisory Council to the Prime Minister endorsed that the macro-economic fundamentals of the economy are sound, but challenges remain, several of which are structural in nature.
India’s growth is expected to be in the range of 7 to 7.5 percent in the next few years. With reforms designed to address the structural problems, growth rates can easily be enhanced by at least one percent.
Amongst the issues which were discussed include agricultural problem, investment trends, fiscal consolidation, interest rate management and credit and financial market issues.
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