India should be able to return to its "normal" growth range by next year as the short-term fallout from a new goods and services tax plan and last November's currency ban ebb, the country's finance minister told CNBC.
The Indian economy grew at its slowest pace in three years between April and June at 5.7 percent. A Reuters poll conducted in October showed economists predict South Asia's largest economy will grow by 6.7 percent in the fiscal year ending March 2018.
"I see the Indian economy picking up quite well," Arun Jaitley told CNBC, adding that the negative impact on growth from demonetization and tax reforms appear to have bottomed out.
"All indications do indicate that we will certainly improve, and whatever is the "Indian normal," other factors remaining the same, we should be able to grow between that 7-8 percent range," he said.