On what are you basing your economic growth projection of 10 per cent?

There is a basing effect happening across sectors. First, in the infrastructure sector, there has been a marginal slowdown last year. As the orders begin to pick up again, growth will accelerate. Second, next year being just prior to the election year, government spending will accelerate, providing a fillip to the economy. Agriculture growth is a difficult call to take, but I think services, infrastructure and manufacturing will be the key drivers.

Apart from this, as gas production starts from the Reliance fields (the quantity they are speaking about is quite significant), it may contribute the core infrastructure growth. Power generation may also pick up as the implementation of power projects, which has been delayed over this Plan period, are implemented. With both manufacturing and services turning in higher growth, growth rates will pick up. Select sectors of the economy have been underperforming because of the sharp increase in interest rates compressed into a short span of time. If interest rates start to trend down, I see rate-sensitive sectors also performing better.