India likely to have double-digit growth this fiscal, says CEA

Chief Economic Adviser (CEA) K V Subramanian on Tuesday said India is expected to log double-digit growth in the current financial year, aided by rising demand and a robust banking sector.

He also said the seminal second generation reforms would help the country grow over 7 per cent during this decade.

India’s GDP growth stood at 8.4 per cent in the second quarter of 2021-22, with the economy surpassing the pre-COVID level, official data showed on Tuesday.

With regard to fiscal deficit, he said the Budget estimate is likely to be met.

India is likely to have a double-digit growth this year; overall growth for the first half has been 13.7%. So, even a little more than 6% growth in the subsequent quarters should be able to deliver double-digit growth for this year; India’s expected to grow 6.5-7% in 2022: CEA pic.twitter.com/AYsiVv25ym

— ANI (@ANI) November 30, 2021

The government estimates fiscal deficit at 6.8 per cent of the gross domestic product (GDP) for the current financial year ending on March 31, 2022.

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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