Indian economy, which expanded at 7.7 per cent between 2003 and 2014 has the potential to clock 8 per cent growth in the near future, Planning Commission’s former deputy Chairman Montek Singh Ahluwalia today said.
He also said that for India to grow at 7.7-8 per cent, implementation of reforms like Goods and Services Tax (GST) and Bankruptcy law are necessary. “I would say post-1991 reform, from 2003-14, India grew at 7.7 per cent. That, I can guarantee, would not have happened if the 1991 reform had not been done. “I think Indian economy has that potential to grow at 7.7 percent if world economy in bad shape, if world economy does well then it has potential to grow at 8 percent,” Ahluwalia said while addressing students of Shri Ram College of Commerce (SRCC).