On the country’s growth prospects, Uday Kotak, MD and executive vice-chairman of Kotak Mahindra said he expects the GDP to grow 4.5-5 per cent in the current fiscal, and move up by 0.50 per cent in the next one.
“I am of the view that growth will move more cautiously. In the current year, somewhere between 4.5-5 per cent and into next year, depending on the political outcome, my expectation is 5 per cent, plus or minus half per cent,” he said.
The i-banker said there are many encouraging things happening in the country and specifically lauded the ability of the government at restructuring the current account and the fiscal deficits.
He, however, said formation of a stable government post elections hold the key for economic growth.
“A fragmented mandate will put more challenge to some of the policy decisions which need to be taken and I hope we are able to come out with a solution which enables us to sustain growth and bring it close to 6 per cent,” he added.