An optimistic Indian Prime Minister said that India's economy could grow at 8% to 9% in September 2009, as the world economy is likely to recover partially from the recession by that time, reported the PTI.
The Prime Minister said that the country grew close to 7.1% in 2008-09 and would grow about 6.5% to 7% in the current fiscal year. He further said that the world faces a serious economic crisis due to the mishandling of financial system by major developed countries.
Dr. Singh noted that financial crisis turned into a credit crisis, thereby impacting many developed countries. India's exports, capital and credit flows too were affected due to the crisis.
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