Economy will rebound in 6 to 9 months: FM

India has been growing by 9 per cent and above for four straight years, but various estimates suggest that the impact of the economic crisis could shave off anywhere between 1 to 2 percentage points.

8220;We are not revising it GDP forecast upwards or downwards. It could be anywhere between 7-8 per cent8230; The only other large country recording such growth will be China,8221; Chidambaram said.

Commenting on the decline in inflation to single digit 8212; 8.98 per cent 8212; after five months, he said, 8220;I don8217;t think we should get too excited about the single digit inflation as it is still close to 9 per cent, much above our tolerance level.

8220;We would like the inflation to come down. We hope it will happen in the next few weeks, so I think we are jumping the gun when we are talking about a rate cut.8221;

As regards the impact of slowdown on India Inc, he said, 8220;Bottom lines in the profit and loss account will indeed be affected but it doesn8217;t mean that something dramatic has happened in the Indian economy.8221;

Stressing that India is still an attractive destination for foreign investors, he said the country8217;s policy stance has attracted significant foreign direct investment as well as portfolio investment in the last four years.