International Monetary Fund (IMF) sees Indian economy recovering to a potential growth of 6.75 per cent to 7 per cent in the coming years.
This potential growth rate could go up over time as investment continues, Thomas Richardson, Senior Resident Representative, IMF said here at an Assocham event in the capital on Wednesday.
But IMF does not see a V-shaped recovery for the Indian economy or it suddenly reaching a double digit level.
“We have to be realistic. We have to give the Government sometime. It is not going to be a turnaround immediately. It will take time”, Richardson said.
IMF’s optimism on India’s growth potential came a day after OECD, a club of rich nations, said in a report that India is poised to return to faster growth.
Currently, IMF’s forecast for India GDP growth for 2014-15 has been pegged at 5.4 percent and rising to 6.3 percent in 2015-16.