India could grow @8 to 9%: PM

The Prime Minister added that the country’s growth rate was close to 7.1 percent in 2008-2009 while in the current year also it will be about 6.5 to 7 percent.

Responding to questions on the meltdown and its impact on India,the Prime Minister said that the world is faced with a ‘grave’ economic crisis that arose “because of mishandling of the financial system by the major developed countries.

“From financial crisis,it became a credit crisis. It has affected a large number of developed countries,” he said.

The crisis has affected India’s exports,as well as capital and credit flows to it,he added.