Why 2018-19 holds the promise of delivering above-normal growth

Yet, if 8% eludes, it'll be due to legacy issues to do with banks and companies-the stubborn "twin balance sheet" problem of excessive debt, writes T N Ninan

By all accounts, the new financial year will be a year of recovery. Buoyed by the prospect of a normal monsoon and a return to normalcy after a period of disruptions, the economy is generally predicted to deliver growth that is distinctly better than the trend rate for India, post-financial crisis, of 7.0 per cent. Five of the last 10 years have seen sub-seven growth rates, while three have seen growth touch 8 per cent or more. Of those three, one year saw double-digit growth. The objective of policy should be to achieve more even growth henceforth with clear acceleration.