World Bank President Jim Young Kim has said India was expected to have a good third quarter, which is in line with Finance Minister P Chidambaram's observations that the country's economy is now picking up.
“If you look at some of the biggest countries, it looks like India is going to have a good third quarter,” Kim said at Wall Street Journal CEO Forum meeting.He was responding to questions on slowed growth in developing countries.“China came in at an annualised rate of 9.3 per cent in the third quarter.
And you know, there are all kinds of downside risks the biggest one being what's oig to happen here in this country when February rolls around.“But we think that, over the next year, growth in the emerging markets is going to be over 5 per cent, and we think that's going to continue,” the World Bank President said.
last week, Chidambaram had exuded confidence that the economy will pick up in the second half and record a growth of 5-5.5 per cent in 2013-14.“I am confident that the greenshoots that are visible here and there will multiply and that the economy will revive.