"Growth of Indian economy will continue. I think a growth rate of 7-7.5 percent is a default rate, but the real challenge is to get 9-10 percent, which India is capable of but requires hard work. With right policies, it can easily grow at 8 percent," the Indian-origin British politician said.
1. The Finance Ministry last week said the economy would grow in the vicinity of 7.5 percent this fiscal, down from the earlier projection of over 8 percent. In the first half of 2015-16, it expanded at 7.2 percent.
2. According to him, the country faces several structural-technical problems related to ease of doing business, regulation, infrastructure and bad debts.
3. The professor also drew attention towards issues like failed land reforms and uncertainty over labor reforms.
4. He said the much-awaited GST may not be implemented from next April, but it looks like the landmark indirect tax reform will eventually get through.

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