Economic growth rate very reasonable, says Arun Jaitley playing down demonetisation effect
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Jaitley spoke after data on Wednesday showed that India's economy, Asia's third largest, suffered a growth slowdown in the quarter to March, to 6.1 percent, well below the expectations of independent economists.
He focused, however, on the growth figure of 7.1 percent in the 2016/17 fiscal year to March.
"I do believe that in the current global situation, a 7-8 percent growth, which at the moment is the Indian normal, is very reasonable," he told a news conference.
Looking ahead to the planned launch of a new
Jaitley also told reporters that resolving the issue of non-performing assets weighing down banks' balance sheets was a work in progress and a major challenge.