"I could easily say that it (economic growth) will be over 6 percent, depending upon the policy of new government," Ahluwalia said addressing an event of Indian School of Business here.
    
"..I think it (revival in the economic growth) will be evident in the next six months next year on the other hand, we can reasonably expect a very strong improvement in performance," he said.
    
"I expect the second half of current year (fiscal) to be better than the first half. I don't think that at the moment, we see signs of strong revival yet. But I do get a picture that people think that the (decline) in the economy has bottomed out," he added
    
According to the government data available, India's Gross Domestic Product (GDP) or economy grew at a decade low rate of 5 percent in the last fiscal. There seems to be persistent sluggishness in the economy as GDP growth slowed down to 4.4 percent in April-June quarter from 4.8 percent in January-March quarter this year.

The economy had grown at 5.4 percent in the corresponding quarter of April-June last fiscal.
    
Later talking to reporters, Ahluwalia said, "The current account deficit (CAD) will be between 2.5 to 2.7 percent of GDP this fiscal."
     
CAD is a difference between outflow and inflow of foreign exchange. It was at USD 88.2 billion or 4.8 percent of GDP in the last fiscal. The Finance Ministry expects it to be at USD 56 billion or less this financial year.
    
Ahluwalia also said that many of actions taken (by the government) will allow investment to flow in.

(Agencies)

Latest News  from Business News Desk