scorecardresearch

India on track to achieve 6.8-7 pc GDP growth this fiscal: CEA

The IMF has projected Indian economy to grow at 6.8 per cent this fiscal, while the RBI has pegged it at 7 per cent.

India on track to achieve 6.8-7 pc GDP growth this fiscal: CEA
India will still be the second-fastest growing economy in G20 in FY23 after Saudi Arabia as per OECD.

The Indian economy is on track to achieve a 6.8-7 per cent GDP growth in the current fiscal, Chief Economic Advsior V Anantha Nageswaran said on Wednesday.He said the economic recovery momentum is continuing and the GDP is averaging the 2019-20 level.

“In 2022-23, the economy is on track to reach a 6.8-7 per cent growth in the current fiscal,” he said, adding festival sales, PMI, bank credit growth and auto sales data shows that the economy has maintained momentum despite global headwinds.

ALSO READ Budget 2023-24: Economists call on FM Nirmala Sitharaman to keep up focus on growth and reforms

The IMF has projected Indian economy to grow at 6.8 per cent this fiscal, while the RBI has pegged it at 7 per cent. India’s economic growth slowed down to 6.3 per cent in the July-September quarter of this fiscal, as against 8.4 per cent in the same period 2021-22.India’s economy grew by 9.7 per cent growth in the first half (April-September) of this fiscal.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

First published on: 30-11-2022 at 07:51:18 pm