New Delhi, There are some signs
of positive movements in the Indian economy and a gross domestic product (GDP)
growth of 5.5 percent is achievable, Chanda Kochar, chief executive officer and
managing director of ICICI Bank, said here Thursday.
“There
are some signs of positive movements in the economy, like coal allocation has
started taking place and passenger car sales have gone up,” Kochhar said at an
interactive session on ‘The Woman on Top’ organised by the Young Ficci Ladies
Organisation (YFLO).
“A 5.5
percent GDP growth target is achievable,” she added.However, fiscal
consolidation is important, she added.Talking about expectations on rate cuts
by the Reserve Bank of India (RBI), the apex bank, Kochhar said: “Rate cut is
expected by the end of the fiscal.”
When YFLO chairperson Avarna
Jain asked about her view on the new BJP-led government and the tasks at its
hand, Kochar said: “There is a lot that needs to be done. Firstly, the
government needs to clear bottlenecks for the ongoing projects. The government
needs to create environment congenial for people to do business. There must be
ease of doing business.
“Roll
out of GST (goods and services tax) can add to the GDP and it is important for
the government to manage the supply side well so that inflation comes down.”
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