The worst is over for the Indian economy after two hard years and the country will return to a high growth path with renewed confidence and even log double-digit expansion, Finance Minister Pranab Mukherjee said on Friday reports the ET.
“Today, as I stand before you, I can say with some confidence we have weathered this crisis well,” Mukherjee told the Lok Sabha, the lower house of parliament, while presenting the federal budget for the next fiscal.
“That is not to say that the challenges today are any less than they were nine months ago, when the UPA (United Progressive Alliance) was voted back to power under the leadership of Sonia Gandhi and Prime Minister Manmohan Singh.”
These comments are a welcomed by the Indian real estate industry. The Indian real estate market was affected badly with the slowdown, however there is now growing stability, the weaker developers went bust and those that have remained now have a greater advantage going forward. Investors are still cautious and most popualar areas to buy Indian real estate remain the large city metros where demand remains high.
Tags: Indian Economy, Indian Growth, Indian Real Estate
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