India needs reforms to sustain high GDP growth: FM

India can sustain high economic growth in the medium term but needs reforms to maintain the momentum over the longer term, Finance Minister P Chidambaram said on Tuesday.

Chidambaram, who is in New York as part of the Incredible India@60 campaign, also said the government was on track on wipe out revenue deficit in 2008-09.

India is the world's fastest-expanding major economy after China and recorded a growth of 9.3 per cent in the quarter ended June 30. The country's central bank has projected a GDP growth of 8.5