India can grow for a prolonged period without running into overheating problems, Chief Economic Advisor V Anantha Nageswaran said on Friday. He was also optimistic about the growth rate going up to 7 per cent during the current fiscal.
“If you run the machinery for a long period, it tends to get overheated. That is the law of physics. But we got overheated in the past because of the speed with which we grew. But this time, because of all the various measures we took in the last eight to nine years, we feel that the machine can run for 8-10 years without it getting overheated. That is the hope we have at the moment for the economy,” he said while addressing members of industry chamber, CII, at Lucknow.
