India's growth potential is above 9 percent: Jaitley

Davos, Jan 22: Asserting that India's economic growth will be significantly better next year, Finance Minister Arun Jaitley Thursday said the real economic growth potential of the country was over 9 percent. "We have a roadmap to bring down fiscal deficit below three percent in a few years. Elimination of subsidies in India is not desirable. We need to rationalise the subsidies," he said on the sidelines of the World Economic Forum at Davos. He also said the government has a mandate to act fast and it is moving rapidly on reforms. Jaitley admitted that managing inflation in the country became easier following the lowering of crude oil prices.