The Prime Minister's economic panel does not expect the Dubai debt crisis to trigger another meltdown in the world and has retained its forecast of Indian economic growth rate to 6.5 per cent for the current fiscal.

"I don't expect really a slip back as far as the economic recovery is concerned. Most countries in the West have shown positive growth in the third quarter of 2009 and this trend will continue. But as we all know recovery is going to be slow and modest," Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan said here.