(Reuters) - The economy is expected to grow "much better" in 2015/16 as compared with the current financial year, India's Finance Minister Arun Jaitley said on Monday.

The Indian economy grew by 5.3 percent in the September quarter from a year earlier, and is expected to grow 5.5 percent in the current financial year that ends on March 31.

India has had two successive years of below 5 percent economic growth and is still recovering from its worst slowdown since the 1980s.