Growth could get stuck at 5-5.5 percent if logjam continues: Montek
NEW DELHI (Reuters) - India's economic growth could get stuck at 5-5.5 percent if a policy logjam continues, Montek Singh Ahluwalia, deputy chairman of the planning commission, said on Thursday.
India's GDP growth has languished below 6 percent for three straight quarters, a far cry from the near-double-digit pace of expansion before the 2008 global financial downturn.
Economic growth for financial year 2012/13 ending in March is expected to be 5.7-5.9 percent, the country's slowest since 2002/03.
(Reporting by Rajesh Kumar Singh; Editing by John Chalmers)
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India approved on Saturday the purchase of 814 mounted gun systems for the army at a cost of 157.5 billion rupees ($2.55 billion), a defence ministry spokesman said. Full Article