CII president K V Kamath, who is chief executive officer and managing director of country's largest private sector lender ICICI Bank, told reporters here today that India's GDP growth was expected to be around 8.61 per cent in 2008-09.
Kamath, however, said it has to be equitable in nature. He said in spite of good growth, the economy would face many challenges, weak agricultural productivity, rising pressure on balance of payment and infrastructural bottlenecks being some of them.
Talking about high inflation rates, Kamath said it was nothing new. High inflation rates were prevailing in advanced countries, he said, adding that commodity prices have peaked in 2008.
He said the Indian economy was buoyant in terms of strong domestic consumption and robust corporate performance.
