In the backdrop of loosing 'trust problems' between the government and industrial sectors, Chief Economic Advisor to Ministry of Finance Kaushik Basu, after Pranab's resignation from the post informed to media that India's derailed economic growth rate will soon back on track.
He however did not explain the exact period but indicated that possibly from October, India's pestered growth rate was expected to rebound.
'Similarly, the rising inflation is also likely to moderate from September,' added Chief Economist.
"We are hopeful that economy is going to bounce back within 4-5 months. I mean its October. Before that I can't realistically say that there will be an improvement, but October onwards," he said it at the 'Statistics Day 2012' meet organised by the government.
India's economic growth, which dipped to 9-year low of 6.5 per cent in 2011-12, is expected to rebound from October, Chief Economic Advisor Kaushik Basu said today.
Speaking on 'trust problem' he said, "We want to work hand in hand with the industry. There is element of trust problem between industry and government that has happened. Over the last several months we were trying to correct it and we will try to correct this as much as possible in the coming months."
Citing that economic reforms through all means have been the part of government agenda, he stressed on to solve the trust issue between the government and industries.
After the resignation of Pranab Mukherjee from Finance Ministry portfolio, Prime Minister Manmohan Singh is looking for it.
--With Agencies Inputs--
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