According to the Chief Economic Advisor at finance ministry Kaushik Basu, the economy grew by nearly 8.6% for the January-March quarter and going forward the estimates are even higher as the minister believes that the economy will touch the upper band of the 8.25% to 8.75% in the coming quarters.

Moreover, Basu further added that the ministry was confident of the economy touching a growth rate of 10% in the next four years despite the fact that the Indian economy is still recovering from the effects of the 18-month long slowdown.

There is no doubt that the economy has recovered very fast from the damage that the slowdown blues left on the turf, all thanks to the fiscal measures that the ministry took. However, going ahead, the government still needs to place its cards with caution if it wants to reach the desired targets.

The rising inflation rates also cause a point of worry for the policymakers as it touched a peak figure of 9.9% in the month of March this year. Experts believe that inflation rates will start moving on a downward trend in the coming few months.